The case pertains to the Corporate Insolvency Resolution Process (CIRP) of M/S PIYUSH SHELTERS INDIA PVT LTD. The CIRP was initiated following the admission of an application filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Swami Deen Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several attempts were made to solicit resolution plans, with the final resolution plan submitted by Mr. Naveen Kumar Gupta as a lead member of a consortium. The resolution plan was examined by the RP and approved by the Committee of Creditors (CoC) with 80.16% voting share, later revised to 100%.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S PIYUSH SHELTERS INDIA PVT LTD following an application under Section 7 of the IBC. Mr. Swami Deen Gupta was appointed as the IRP and later confirmed as RP. Several attempts to solicit resolution plans were made, with the final plan submitted by Mr. Naveen Kumar Gupta as a lead member of a consortium. The CoC approved the resolution plan with 80.16% of the voting share, which was later revised to 100%. The resolution plan involves a total amount of Rs. 12.38 crores, to be implemented within 24 months. The plan includes provisions for payment to various creditors, including secured financial creditors like HDB Financial Services Limited and Mahindra & Mahindra Finance, as well as operational
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The Corporate Insolvency Resolution Process…
7th CoC meeting held where the Resolution…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of M/S PIYUSH SHELTERS INDIA PVT LTD. The CIRP was initiated following the admission of an application filed by the Financial Creditor under Section 7 of the Insolvency and Bankruptcy Code (IBC). Mr. Swami Deen Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several attempts were made to solicit resolution plans, with the final resolution plan submitted by Mr. Naveen Kumar Gupta as a lead member of a consortium. The resolution plan was examined by the RP and approved by the Committee of Creditors (CoC) with 80.16% voting share, later revised to 100%.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S PIYUSH SHELTERS INDIA PVT LTD following an application under Section 7 of the IBC. Mr. Swami Deen Gupta was appointed as the IRP and later confirmed as RP. Several attempts to solicit resolution plans were made, with the final plan submitted by Mr. Naveen Kumar Gupta as a lead member of a consortium. The CoC approved the resolution plan with 80.16% of the voting share, which was later revised to 100%. The resolution plan involves a total amount of Rs. 12.38 crores, to be implemented within 24 months. The plan includes provisions for payment to various creditors, including secured financial creditors like HDB Financial Services Limited and Mahindra & Mahindra Finance, as well as operational
…The Corporate Insolvency Resolution Process…
7th CoC meeting held where the Resolution…