The case pertains to the insolvency resolution of Nicco Corporation Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016. The company application was admitted on January 18, 2017, and Kunal Banerjee was appointed as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP) by the Committee of Creditors (COC). The resolution process was initially to be completed by July 16, 2017, but was extended by 90 days until October 14, 2017, upon the recommendation of the COC. The Resolution Professional submitted a report on October 12, 2017, stating that the resolution process had failed during the COC meeting on October 6, 2017. The resolution plan for the revival of the Corporate Debtor was put to a vote during the 6th COC
…Nicco Corporation Limited faced insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on January 18, 2017. Kunal Banerjee was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The initial deadline for the resolution process was July 16, 2017, which was extended to October 14, 2017. A resolution plan was presented to the Committee of Creditors (COC) but failed to gain approval, with 88.38% of the members voting against it during the 6th COC meeting on October 6, 2017. M/S Shreekunj Securities Pvt Ltd, a strategic investor, expressed interest but did not submit a complete proposal in time. The 7th COC meeting was held on October 11, 2017, to discuss
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The company application filed by Nicco…
Sri Kunal Banerjee was…
The case pertains to the insolvency resolution of Nicco Corporation Limited under Section 10 of the Insolvency and Bankruptcy Code, 2016. The company application was admitted on January 18, 2017, and Kunal Banerjee was appointed as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP) by the Committee of Creditors (COC). The resolution process was initially to be completed by July 16, 2017, but was extended by 90 days until October 14, 2017, upon the recommendation of the COC. The Resolution Professional submitted a report on October 12, 2017, stating that the resolution process had failed during the COC meeting on October 6, 2017. The resolution plan for the revival of the Corporate Debtor was put to a vote during the 6th COC
…Nicco Corporation Limited faced insolvency proceedings under Section 10 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on January 18, 2017. Kunal Banerjee was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The initial deadline for the resolution process was July 16, 2017, which was extended to October 14, 2017. A resolution plan was presented to the Committee of Creditors (COC) but failed to gain approval, with 88.38% of the members voting against it during the 6th COC meeting on October 6, 2017. M/S Shreekunj Securities Pvt Ltd, a strategic investor, expressed interest but did not submit a complete proposal in time. The 7th COC meeting was held on October 11, 2017, to discuss
…The company application filed by Nicco…
Sri Kunal Banerjee was…