The case involves a corporate insolvency resolution process (CIRP) initiated against Murli Industries Limited by Edelweiss Asset Reconstruction Company Limited (EARC) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 2017-05-04, and Mr. Vijaykumar V. Iyer was appointed as the Interim Resolution Professional. The resolution plan submitted by Dalmia Cement (Bharat) Limited was approved by 100% of the Committee of Creditors (CoC). However, various applications and objections were filed by different parties, including the erstwhile promoter, workers, and other creditors, challenging the resolution plan and the CIRP process. A winding-up petition against the Corporate Debtor was already pending before the Hon'ble High Court of
…Edelweiss Asset Reconstruction Company Limited (EARC) initiated Corporate Insolvency Resolution Process (CIRP) against Murli Industries Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 2017-05-04, and Vijaykumar V. Iyer was appointed as the Interim Resolution Professional. Dalmia Cement (Bharat) Limited submitted a resolution plan, which was approved by 100% of the Committee of Creditors (CoC). The CIRP period was extended to 270 days, expiring on 2017-12-31. The Resolution Professional filed MA 689/2017 seeking approval of the resolution plan. Several applications and objections were filed by various parties, including the erstwhile promoter, workers, and other creditors, challenging the resolution plan and the CIRP
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Corporate Insolvency Resolution Process…
Mr. Vijaykumar V. Iyer…
The case involves a corporate insolvency resolution process (CIRP) initiated against Murli Industries Limited by Edelweiss Asset Reconstruction Company Limited (EARC) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 2017-05-04, and Mr. Vijaykumar V. Iyer was appointed as the Interim Resolution Professional. The resolution plan submitted by Dalmia Cement (Bharat) Limited was approved by 100% of the Committee of Creditors (CoC). However, various applications and objections were filed by different parties, including the erstwhile promoter, workers, and other creditors, challenging the resolution plan and the CIRP process. A winding-up petition against the Corporate Debtor was already pending before the Hon'ble High Court of
…Edelweiss Asset Reconstruction Company Limited (EARC) initiated Corporate Insolvency Resolution Process (CIRP) against Murli Industries Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 2017-05-04, and Vijaykumar V. Iyer was appointed as the Interim Resolution Professional. Dalmia Cement (Bharat) Limited submitted a resolution plan, which was approved by 100% of the Committee of Creditors (CoC). The CIRP period was extended to 270 days, expiring on 2017-12-31. The Resolution Professional filed MA 689/2017 seeking approval of the resolution plan. Several applications and objections were filed by various parties, including the erstwhile promoter, workers, and other creditors, challenging the resolution plan and the CIRP
…Corporate Insolvency Resolution Process…
Mr. Vijaykumar V. Iyer…