Bank of India, Muktsar, Punjab, as the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Ekam Agro Private Limited. Mr. Mohit Chawla was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC), consisting solely of Bank of India, was formed. Despite inviting Expressions of Interest (EoI) and receiving multiple resolution plans, all were ultimately rejected. A re-issued Request for Resolution Plan (RFRP) resulted in only one plan from Mr. Dapinder Pal Singh Dhillon, which was also rejected due to a significant bid reduction and issues regarding asset control.
The Financial Creditor, Bank of India, Muktsar, Punjab, filed CP(IB)No.276/Chd/Pb/2020 under Section 7 of the Code for initiating CIRP against Ekam Agro Private Limited.
Mr. Mohit Chawla was appointed as the Interim Resolution Professional (IRP) by the Tribunal's order dated 20.02.2024.
Mr. Mohit Chawla was confirmed as Resolution Professional (RP) by the CoC in its 1st meeting on 20.03.2024 with 100% voting share.
Bank of India, Muktsar, Punjab, was the sole secured Financial Creditor and constituted the Committee of Creditors (CoC) with 100% voting share.
The RP appointed valuers: Sarang Goel (Land & Building), Nikka Ram (Plant & Machinery), Rite Value Consulting Private Limited (Securities or Financial Assets), and GTech Valuers Pvt Ltd (All three Asset Classes).
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Tribunal Order initiating Corporate Insolvency…
1st CoC meeting held where Mr. Mohit Chawla was…
Bank of India, Muktsar, Punjab, as the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Ekam Agro Private Limited. Mr. Mohit Chawla was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC), consisting solely of Bank of India, was formed. Despite inviting Expressions of Interest (EoI) and receiving multiple resolution plans, all were ultimately rejected. A re-issued Request for Resolution Plan (RFRP) resulted in only one plan from Mr. Dapinder Pal Singh Dhillon, which was also rejected due to a significant bid reduction and issues regarding asset control.
The Financial Creditor, Bank of India, Muktsar, Punjab, filed CP(IB)No.276/Chd/Pb/2020 under Section 7 of the Code for initiating CIRP against Ekam Agro Private Limited.
Mr. Mohit Chawla was appointed as the Interim Resolution Professional (IRP) by the Tribunal's order dated 20.02.2024.
Mr. Mohit Chawla was confirmed as Resolution Professional (RP) by the CoC in its 1st meeting on 20.03.2024 with 100% voting share.
Bank of India, Muktsar, Punjab, was the sole secured Financial Creditor and constituted the Committee of Creditors (CoC) with 100% voting share.
The RP appointed valuers: Sarang Goel (Land & Building), Nikka Ram (Plant & Machinery), Rite Value Consulting Private Limited (Securities or Financial Assets), and GTech Valuers Pvt Ltd (All three Asset Classes).
…Tribunal Order initiating Corporate Insolvency…
1st CoC meeting held where Mr. Mohit Chawla was…