The case involves a resolution plan for Rainbow Papers Ltd, a corporate debtor, initiated under the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was triggered by an application filed by Neeraj Papers Pvt. Ltd., an operational creditor, under Section 9 of the IBC. The CIRP commenced with the appointment of an Interim Resolution Professional (IRP), followed by a public announcement inviting claims from creditors. A Committee of Creditors (CoC) was constituted, and the IRP was replaced by Mr. Ramchandra D. Chaudhary as the Resolution Professional (RP). The CoC sought expressions of interest (Eol) for resolution plans, leading to multiple submissions and revisions of plans. The resolution plan submitted by Kushal Limited jointly
…Neeraj Papers Pvt. Ltd., an operational creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Rainbow Papers Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the application and appointed an Interim Resolution Professional (IRP). Public announcement was made to invite claims from creditors. The IRP was replaced by Mr. Ramchandra D. Chaudhary as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and expressions of interest (Eol) were invited for resolution plans. Kushal Limited jointly with Mr. Sandip Agrawal submitted a resolution plan, which was approved by the CoC with a majority vote of 72.79%. The RP filed an application under Section 30(6) read with
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The Adjudicating Authority admitted CP(IB)…
The Adjudicating Authority appointed Shri…
The case involves a resolution plan for Rainbow Papers Ltd, a corporate debtor, initiated under the Insolvency and Bankruptcy Code (IBC). The Corporate Insolvency Resolution Process (CIRP) was triggered by an application filed by Neeraj Papers Pvt. Ltd., an operational creditor, under Section 9 of the IBC. The CIRP commenced with the appointment of an Interim Resolution Professional (IRP), followed by a public announcement inviting claims from creditors. A Committee of Creditors (CoC) was constituted, and the IRP was replaced by Mr. Ramchandra D. Chaudhary as the Resolution Professional (RP). The CoC sought expressions of interest (Eol) for resolution plans, leading to multiple submissions and revisions of plans. The resolution plan submitted by Kushal Limited jointly
…Neeraj Papers Pvt. Ltd., an operational creditor, initiated the Corporate Insolvency Resolution Process (CIRP) against Rainbow Papers Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the application and appointed an Interim Resolution Professional (IRP). Public announcement was made to invite claims from creditors. The IRP was replaced by Mr. Ramchandra D. Chaudhary as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and expressions of interest (Eol) were invited for resolution plans. Kushal Limited jointly with Mr. Sandip Agrawal submitted a resolution plan, which was approved by the CoC with a majority vote of 72.79%. The RP filed an application under Section 30(6) read with
…The Adjudicating Authority admitted CP(IB)…
The Adjudicating Authority appointed Shri…