The case involves an application (IA No. 686 of 2018) filed by the Resolution Professional (RP) appointed in CP(IB) No. 24/7/HDB/2018 concerning MIC Electronics Limited. The RP sought approval of a Resolution Plan submitted along with the application under Section 31 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The original petition was filed by SREI Equipment Finance Limited under Section 7 of the IBC, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against MIC Electronics Limited.
SREI Equipment Finance Limited initiated Corporate Insolvency Resolution Process (CIRP) against MIC Electronics Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2018-03-13. Mr. Prabhakar Nandiraju was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A Committee of Creditors (CoC) was constituted, comprising various financial creditors including State Bank of India, UCO Bank, Technology development Board, SREI Equipment Finance Limited, Reliance Capital Limited, JBB Infrastructure Private Limited, MIC Welfare Employees Trust, Axis Bank Limited, and Andhra Bank. The CoC was reconstituted several times. The RP convened six meetings of the
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The petition filed by…
Mr. Prabhakar Nandiraju…
The case involves an application (IA No. 686 of 2018) filed by the Resolution Professional (RP) appointed in CP(IB) No. 24/7/HDB/2018 concerning MIC Electronics Limited. The RP sought approval of a Resolution Plan submitted along with the application under Section 31 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The original petition was filed by SREI Equipment Finance Limited under Section 7 of the IBC, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against MIC Electronics Limited.
SREI Equipment Finance Limited initiated Corporate Insolvency Resolution Process (CIRP) against MIC Electronics Limited by filing a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2018-03-13. Mr. Prabhakar Nandiraju was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A Committee of Creditors (CoC) was constituted, comprising various financial creditors including State Bank of India, UCO Bank, Technology development Board, SREI Equipment Finance Limited, Reliance Capital Limited, JBB Infrastructure Private Limited, MIC Welfare Employees Trust, Axis Bank Limited, and Andhra Bank. The CoC was reconstituted several times. The RP convened six meetings of the
…The petition filed by…
Mr. Prabhakar Nandiraju…