The case pertains to IA (IB) No.398/KB/2021 filed in CP (IB) No.213/KB/2019, an application under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016, seeking approval of a resolution plan for Mackeil Ispat & Forging Limited. The corporate insolvency resolution process (CIRP) was initiated based on an application filed by State Bank of India under section 7 of the IBC, which was admitted on 03.02.2020. Siba Kumar Mohapatra was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and several meetings were held to discuss and evaluate resolution plans.
State Bank of India initiated CIRP against Mackeil Ispat & Forging Limited under Section 7 of IBC, admitted on 03.02.2020. Siba Kumar Mohapatra was appointed as IRP and later as RP. The CoC was constituted on 25.02.2020, and further reconstituted on 11.08.2020 and 03.10.2020. The IRP made a public announcement on 07.02.2020, inviting claims from creditors. Fourteen CoC meetings were held during the CIRP period. The total claims filed amounted to Rs. 477.75 crore, while the admitted claims were Rs. 475.94 crore. Invitations for Expressions of Interest (EoI) were issued, and three resolution plans were received. The Resolution Plans were opened on 17.10.2020, and the RP informed the CoC of the liquidation and fair value of the Corporate Debtor. The CoC approved the
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CP (IB) No.213/KB/2019 filed by State Bank of…
CP (IB) No.213/KB/2019…
The case pertains to IA (IB) No.398/KB/2021 filed in CP (IB) No.213/KB/2019, an application under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016, seeking approval of a resolution plan for Mackeil Ispat & Forging Limited. The corporate insolvency resolution process (CIRP) was initiated based on an application filed by State Bank of India under section 7 of the IBC, which was admitted on 03.02.2020. Siba Kumar Mohapatra was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and several meetings were held to discuss and evaluate resolution plans.
State Bank of India initiated CIRP against Mackeil Ispat & Forging Limited under Section 7 of IBC, admitted on 03.02.2020. Siba Kumar Mohapatra was appointed as IRP and later as RP. The CoC was constituted on 25.02.2020, and further reconstituted on 11.08.2020 and 03.10.2020. The IRP made a public announcement on 07.02.2020, inviting claims from creditors. Fourteen CoC meetings were held during the CIRP period. The total claims filed amounted to Rs. 477.75 crore, while the admitted claims were Rs. 475.94 crore. Invitations for Expressions of Interest (EoI) were issued, and three resolution plans were received. The Resolution Plans were opened on 17.10.2020, and the RP informed the CoC of the liquidation and fair value of the Corporate Debtor. The CoC approved the
…CP (IB) No.213/KB/2019 filed by State Bank of…
CP (IB) No.213/KB/2019…