The case involves a Miscellaneous Application (MA) No. 3638/2019 filed by Mr. Surya Pratap Gupta, the Resolution Professional, under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (I&B Code) in C.P. (IB) 593/MB/2018. The Corporate Insolvency Resolution Process (CIRP) was initiated against Maharashtra Vidyut Nigam Private Limited, the Corporate Debtor, following an order dated 14.02.2019. The Resolution Professional sought approval for the resolution plan submitted by Shanti G. D. Ispat and Power Private Limited, which was approved by the Committee of Creditors (CoC). The Resolution Professional invited three Expressions of Interest (EoI), and after multiple negotiations, the final resolution plan was submitted on 07.11.2019.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Maharashtra Vidyut Nigam Private Limited following an order dated 14.02.2019. The Resolution Professional (RP), Mr. Surya Pratap Gupta, filed MA No. 3638/2019 seeking approval of the resolution plan submitted by Shanti G. D. Ispat and Power Private Limited. The RP had invited three Expressions of Interest (EoI) and, after negotiations, the final resolution plan was submitted on 07.11.2019. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan proposed an aggregate consideration of ₹25,30,00,000/- to all stakeholders. The Resolution Applicant, Shanti G. D. Ispat and Power Private Limited, is a private limited company with a 15 MW Biomass based
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Filing of C.P.(IB)-593(M…
Corporate Insolvency Resolution Process (CIRP)…
The case involves a Miscellaneous Application (MA) No. 3638/2019 filed by Mr. Surya Pratap Gupta, the Resolution Professional, under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (I&B Code) in C.P. (IB) 593/MB/2018. The Corporate Insolvency Resolution Process (CIRP) was initiated against Maharashtra Vidyut Nigam Private Limited, the Corporate Debtor, following an order dated 14.02.2019. The Resolution Professional sought approval for the resolution plan submitted by Shanti G. D. Ispat and Power Private Limited, which was approved by the Committee of Creditors (CoC). The Resolution Professional invited three Expressions of Interest (EoI), and after multiple negotiations, the final resolution plan was submitted on 07.11.2019.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Maharashtra Vidyut Nigam Private Limited following an order dated 14.02.2019. The Resolution Professional (RP), Mr. Surya Pratap Gupta, filed MA No. 3638/2019 seeking approval of the resolution plan submitted by Shanti G. D. Ispat and Power Private Limited. The RP had invited three Expressions of Interest (EoI) and, after negotiations, the final resolution plan was submitted on 07.11.2019. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan proposed an aggregate consideration of ₹25,30,00,000/- to all stakeholders. The Resolution Applicant, Shanti G. D. Ispat and Power Private Limited, is a private limited company with a 15 MW Biomass based
…Filing of C.P.(IB)-593(M…
Corporate Insolvency Resolution Process (CIRP)…