The case involves an application (IA No. 698/2020) filed by the Resolution Professional (RP) under Section 12 and 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of NCLT Rules, 2016, seeking an extension of 30 days for the Corporate Insolvency Resolution Process (CIRP) of RCM Infrastructure Ltd. The CIRP was initiated on 03.01.2019, and Mr. Manivannan was appointed as the Interim Resolution Professional (IRP) and later continued as the RP. The RP had previously sought an extension of the initial CIRP period, which was granted by the Tribunal. Only one Expression of Interest was received from the existing promoter, which was rejected by the RP. The promoters then filed an application (IA No.833/2019), and the Tribunal directed the RP to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against RCM Infrastructure Ltd on 03.01.2019. Mr. Manivannan was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The initial CIRP period of 180 days was extended by another 90 days by the Tribunal's order dated 19.07.2019, setting a deadline of 01.10.2019 for completion. Only one Expression of Interest was received from the existing promoter, which the RP rejected. The promoters then filed IA No.833/2019, leading the Tribunal to direct the RP to consider their resolution plan. The promoters submitted a binding resolution plan on 18.01.2020, which was presented to the COC on 23.01.2020. The COC requested the promoters to enhance the plan's
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The case involves an application (IA No. 698/2020) filed by the Resolution Professional (RP) under Section 12 and 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of NCLT Rules, 2016, seeking an extension of 30 days for the Corporate Insolvency Resolution Process (CIRP) of RCM Infrastructure Ltd. The CIRP was initiated on 03.01.2019, and Mr. Manivannan was appointed as the Interim Resolution Professional (IRP) and later continued as the RP. The RP had previously sought an extension of the initial CIRP period, which was granted by the Tribunal. Only one Expression of Interest was received from the existing promoter, which was rejected by the RP. The promoters then filed an application (IA No.833/2019), and the Tribunal directed the RP to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against RCM Infrastructure Ltd on 03.01.2019. Mr. Manivannan was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The initial CIRP period of 180 days was extended by another 90 days by the Tribunal's order dated 19.07.2019, setting a deadline of 01.10.2019 for completion. Only one Expression of Interest was received from the existing promoter, which the RP rejected. The promoters then filed IA No.833/2019, leading the Tribunal to direct the RP to consider their resolution plan. The promoters submitted a binding resolution plan on 18.01.2020, which was presented to the COC on 23.01.2020. The COC requested the promoters to enhance the plan's
…CIRP started against…
First meeting…