The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by an Operational Creditor, M/s. BMMIspat Limited, against M/s. RamdasIspat and Metals Private Limited (Corporate Debtor). The petition was admitted on 2018-04-06, and Mr. LaxmanDigambarPawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2018-06-17. The IRP received three claims, including one from a Financial Creditor (Bank of Baroda) and two from Operational Creditors. The Committee of Creditors (CoC) was formed with only one Financial Creditor. The CoC decided not to pursue a resolution plan and instead opted for liquidation of the Corporate Debtor.
M/s. BMMIspat Limited, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. RamdasIspat and Metals Private Limited (Corporate Debtor). The petition was admitted on 2018-04-06, and Mr. LaxmanDigambarPawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2018-06-17, following which the IRP received three claims: one from Bank of Baroda (Financial Creditor) amounting to ₹12,79,19,290, and two from Operational Creditors. The Committee of Creditors (CoC) was formed with only Bank of Baroda as the Financial Creditor. The CoC, in its second meeting held on 2018-09-07, decided not to pursue a resolution plan due to the closure of the unit in 2013, disposal of machinery,
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The petition filed by M/s. BMMIspat Limited…
Mr. LaxmanDigambarPawar…
The case involves a petition filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by an Operational Creditor, M/s. BMMIspat Limited, against M/s. RamdasIspat and Metals Private Limited (Corporate Debtor). The petition was admitted on 2018-04-06, and Mr. LaxmanDigambarPawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2018-06-17. The IRP received three claims, including one from a Financial Creditor (Bank of Baroda) and two from Operational Creditors. The Committee of Creditors (CoC) was formed with only one Financial Creditor. The CoC decided not to pursue a resolution plan and instead opted for liquidation of the Corporate Debtor.
M/s. BMMIspat Limited, an Operational Creditor, filed a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016 against M/s. RamdasIspat and Metals Private Limited (Corporate Debtor). The petition was admitted on 2018-04-06, and Mr. LaxmanDigambarPawar was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2018-06-17, following which the IRP received three claims: one from Bank of Baroda (Financial Creditor) amounting to ₹12,79,19,290, and two from Operational Creditors. The Committee of Creditors (CoC) was formed with only Bank of Baroda as the Financial Creditor. The CoC, in its second meeting held on 2018-09-07, decided not to pursue a resolution plan due to the closure of the unit in 2013, disposal of machinery,
…The petition filed by M/s. BMMIspat Limited…
Mr. LaxmanDigambarPawar…