An insolvency petition was filed by Overseas Infrastructure Alliance (India) Private Limited (Operational Creditor) against Mcraygor Mechanicals Private Limited (Corporate Debtor) under Section 9 of the IBC. Mr. Naveen Kumar Jain was appointed as IRP/RP. The CoC, comprising SIDBI and Bank of Baroda, was constituted. An Expression of Interest (EOI) was invited, but the resolution plan submitted by Mr. Vijay Kumar (erstwhile Promoter/Director) was found ineligible. A subsequent settlement proposal under Section 12A of the Code also failed to materialize due to non-compliance and lack of approval from the CoC and Operational Creditor.
An insolvency petition was filed under Section 9 of the Code by the Operational Creditor against the Corporate Debtor.
The petition was admitted vide order dated 08.02.2023, and Mr. Naveen Kumar Jain was appointed as Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was constituted, comprising Small Industries Development Bank of India (SIDBI) and Bank of Baroda.
In the first CoC meeting on 13.03.2023, the CoC resolved to appoint the IRP to act as the Resolution Professional (RP).
The Adjudicating Authority appointed Mr. Naveen Kumar Jain as the Resolution Professional on 09.06.2023.
In the 4th CoC meeting on 13.06.2023, the CoC approved inviting Expression of Interest (EOI) in Form G.
…Sign in to view the parties.
Insolvency petition admitted, and Mr. Naveen…
Committee of Creditors (CoC) resolved to…
An insolvency petition was filed by Overseas Infrastructure Alliance (India) Private Limited (Operational Creditor) against Mcraygor Mechanicals Private Limited (Corporate Debtor) under Section 9 of the IBC. Mr. Naveen Kumar Jain was appointed as IRP/RP. The CoC, comprising SIDBI and Bank of Baroda, was constituted. An Expression of Interest (EOI) was invited, but the resolution plan submitted by Mr. Vijay Kumar (erstwhile Promoter/Director) was found ineligible. A subsequent settlement proposal under Section 12A of the Code also failed to materialize due to non-compliance and lack of approval from the CoC and Operational Creditor.
An insolvency petition was filed under Section 9 of the Code by the Operational Creditor against the Corporate Debtor.
The petition was admitted vide order dated 08.02.2023, and Mr. Naveen Kumar Jain was appointed as Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was constituted, comprising Small Industries Development Bank of India (SIDBI) and Bank of Baroda.
In the first CoC meeting on 13.03.2023, the CoC resolved to appoint the IRP to act as the Resolution Professional (RP).
The Adjudicating Authority appointed Mr. Naveen Kumar Jain as the Resolution Professional on 09.06.2023.
In the 4th CoC meeting on 13.06.2023, the CoC approved inviting Expression of Interest (EOI) in Form G.
…Insolvency petition admitted, and Mr. Naveen…
Committee of Creditors (CoC) resolved to…