The case pertains to MA 422/2019 filed in CP 241/30(6)/MB/2018 before the National Company Law Tribunal (NCLT), Mumbai Bench. The application was filed by the Resolution Professional, Ms. Sujata Chattopadhyay, seeking approval of the resolution plan for the Corporate Debtor, Maruti Cotex Ltd, as approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Maruti Cotex Ltd. The Interim Resolution Professional was appointed, and subsequently, the applicant was appointed as the Resolution Professional. The CoC was formed, and various meetings were held to consider resolution plans. Several extensions were granted for
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Maruti Cotex Ltd. A petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) was admitted by the NCLT. Ms. Sujata Chattopadhyay was appointed as the Resolution Professional (RP). The RP invited Expression of Interest (EoI) for resolution plans, and several extensions were granted for submission. The RP received claims from Financial Creditors amounting to Rs.574.98 crores and from Operational Creditors amounting to Rs.5.03 crores. The liquidation value of the assets of the Corporate Debtor was ascertained by two valuers as Rs.84.12 crores and Rs.92.01 crores, with an average of Rs.88.07 crores. The Committee of Creditors (CoC) considered multiple resolution plans. Ultimately, the CoC
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The Adjudicating Authority admitted a petition…
The Interim Resolution Professional issued a…
The case pertains to MA 422/2019 filed in CP 241/30(6)/MB/2018 before the National Company Law Tribunal (NCLT), Mumbai Bench. The application was filed by the Resolution Professional, Ms. Sujata Chattopadhyay, seeking approval of the resolution plan for the Corporate Debtor, Maruti Cotex Ltd, as approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) against Maruti Cotex Ltd. The Interim Resolution Professional was appointed, and subsequently, the applicant was appointed as the Resolution Professional. The CoC was formed, and various meetings were held to consider resolution plans. Several extensions were granted for
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Maruti Cotex Ltd. A petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) was admitted by the NCLT. Ms. Sujata Chattopadhyay was appointed as the Resolution Professional (RP). The RP invited Expression of Interest (EoI) for resolution plans, and several extensions were granted for submission. The RP received claims from Financial Creditors amounting to Rs.574.98 crores and from Operational Creditors amounting to Rs.5.03 crores. The liquidation value of the assets of the Corporate Debtor was ascertained by two valuers as Rs.84.12 crores and Rs.92.01 crores, with an average of Rs.88.07 crores. The Committee of Creditors (CoC) considered multiple resolution plans. Ultimately, the CoC
…The Adjudicating Authority admitted a petition…
The Interim Resolution Professional issued a…