The case involves an application under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016, regarding the approval of a resolution plan for Mondal & Manna Coldstore Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by United Bank of India under Section 7 of the Code. The Adjudicating Authority passed an order on 23.09.2019 initiating CIRP and appointing Mrs. Uma Kothari as Interim Resolution Professional. The Committee of Creditors (CoC) was constituted and held several meetings to evaluate the resolution plan.
United Bank of India (now merged with PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Mondal & Manna Coldstore Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority initiated CIRP on 23.09.2019 and appointed Mrs. Uma Kothari as Interim Resolution Professional. The Committee of Creditors (CoC) was constituted on 16.10.2019. Two applications were received in response to the publication of EOI. Maa Tara Projects submitted a resolution plan that was approved by the CoC with 100% vote share. The resolution plan included an upfront payment of Rs. 10,00,000, with Rs. 4,75,105 allocated towards CIRP costs. The only asset of the Corporate Debtor was a pond, valued at Rs. 28,90,500. The Resolution Plan
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Adjudicating authority passed an order for…
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The case involves an application under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016, regarding the approval of a resolution plan for Mondal & Manna Coldstore Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by United Bank of India under Section 7 of the Code. The Adjudicating Authority passed an order on 23.09.2019 initiating CIRP and appointing Mrs. Uma Kothari as Interim Resolution Professional. The Committee of Creditors (CoC) was constituted and held several meetings to evaluate the resolution plan.
United Bank of India (now merged with PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Mondal & Manna Coldstore Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority initiated CIRP on 23.09.2019 and appointed Mrs. Uma Kothari as Interim Resolution Professional. The Committee of Creditors (CoC) was constituted on 16.10.2019. Two applications were received in response to the publication of EOI. Maa Tara Projects submitted a resolution plan that was approved by the CoC with 100% vote share. The resolution plan included an upfront payment of Rs. 10,00,000, with Rs. 4,75,105 allocated towards CIRP costs. The only asset of the Corporate Debtor was a pond, valued at Rs. 28,90,500. The Resolution Plan
…Adjudicating authority passed an order for…
The Committ…