The case involves multiple Interlocutory Applications (IAs) filed in connection with Corporate Insolvency Resolution Process (CIRP) for Maruti Koatsu Cylinders Limited. IA 224/2019 was filed by the Resolution Professional (RP) under Section 30 of the Insolvency and Bankruptcy Code, 2016 (IBC) for submission and approval of the Resolution Plan received from Safire Technologies Private Limited. IA 160/2019 was filed by the RP seeking exclusion of a certain period from the CIRP. IA 402/2019 was filed by a Secured Financial Creditor (ARCIL) regarding reduction of its claim in the Resolution Plan. The CIRP was initiated based on an application filed by Binil Traders under Section 9 of the IBC.
Binil Traders, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Maruti Koatsu Cylinders Limited by filing CP(IB) No. 118/2018 under Section 9 of the IBC. The CIRP was admitted on 2018-04-26, and Mangesh Vitthal Kekre was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP received a Resolution Plan from Safire Technologies Private Limited on 2018-12-14, which was subsequently negotiated and enhanced. The Committee of Creditors (CoC) approved the Resolution Plan with 90.09% voting share on 2019-04-05. ARCIL, a secured financial creditor, filed IA 402/2019 objecting to the reduction of its claim from Rs. 6.05 crores to Rs. 0.79 crores in the Resolution Plan. The RP
…Sign in to view the parties.
CIRP initiated against Maruti Koatsu…
Mangesh Vitthal Kekre…
The case involves multiple Interlocutory Applications (IAs) filed in connection with Corporate Insolvency Resolution Process (CIRP) for Maruti Koatsu Cylinders Limited. IA 224/2019 was filed by the Resolution Professional (RP) under Section 30 of the Insolvency and Bankruptcy Code, 2016 (IBC) for submission and approval of the Resolution Plan received from Safire Technologies Private Limited. IA 160/2019 was filed by the RP seeking exclusion of a certain period from the CIRP. IA 402/2019 was filed by a Secured Financial Creditor (ARCIL) regarding reduction of its claim in the Resolution Plan. The CIRP was initiated based on an application filed by Binil Traders under Section 9 of the IBC.
Binil Traders, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Maruti Koatsu Cylinders Limited by filing CP(IB) No. 118/2018 under Section 9 of the IBC. The CIRP was admitted on 2018-04-26, and Mangesh Vitthal Kekre was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP received a Resolution Plan from Safire Technologies Private Limited on 2018-12-14, which was subsequently negotiated and enhanced. The Committee of Creditors (CoC) approved the Resolution Plan with 90.09% voting share on 2019-04-05. ARCIL, a secured financial creditor, filed IA 402/2019 objecting to the reduction of its claim from Rs. 6.05 crores to Rs. 0.79 crores in the Resolution Plan. The RP
…CIRP initiated against Maruti Koatsu…
Mangesh Vitthal Kekre…