The case pertains to an application filed under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a resolution plan. The Committee of Creditors (CoC) had already approved the plan in its 6th meeting with a requisite majority of 72.30% under Section 30(4) of the Code. The Corporate Insolvency Resolution Process (CIRP) was initiated against Multiwal Pulp and Board Mills Private Limited, with Corporation Bank being the financial creditor. The CIRP was initiated on 21.05.2019, and Mr. Manish Agarwal was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP issued an
…Corporation Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Multiwal Pulp and Board Mills Private Limited. The CIRP was admitted on 21.05.2019. Manish Agarwal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (Eol). Two resolution plans were received from M/s A N International and M/s Marinaindia Traexim Private Limited. The Committee of Creditors (CoC) rejected the plan of M/s A N International and approved the plan of M/s Marinaindia Traexim Private Limited with a 72.30% voting share in its 6th meeting. The Resolution Applicant, M/s Marinaindia Traexim Private Limited, was asked to revise the Resolution
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Corporate Insolvency Resolution Process (CIRP)…
Manish Agarwal was…
The case pertains to an application filed under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 39 of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a resolution plan. The Committee of Creditors (CoC) had already approved the plan in its 6th meeting with a requisite majority of 72.30% under Section 30(4) of the Code. The Corporate Insolvency Resolution Process (CIRP) was initiated against Multiwal Pulp and Board Mills Private Limited, with Corporation Bank being the financial creditor. The CIRP was initiated on 21.05.2019, and Mr. Manish Agarwal was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP issued an
…Corporation Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Multiwal Pulp and Board Mills Private Limited. The CIRP was admitted on 21.05.2019. Manish Agarwal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (Eol). Two resolution plans were received from M/s A N International and M/s Marinaindia Traexim Private Limited. The Committee of Creditors (CoC) rejected the plan of M/s A N International and approved the plan of M/s Marinaindia Traexim Private Limited with a 72.30% voting share in its 6th meeting. The Resolution Applicant, M/s Marinaindia Traexim Private Limited, was asked to revise the Resolution
…Corporate Insolvency Resolution Process (CIRP)…
Manish Agarwal was…