The case pertains to an application filed under Sections 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016 (IBC) for the approval of a resolution plan for R G Buildestate Private Limited ('Corporate Debtor'). The insolvency application was initiated by the Financial Creditor, S J Services Private Limited, under Section 7 of the IBC. The Adjudicating Authority admitted the application on 30.01.2020 and appointed an Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted on 22.02.2020. The resolution plan proposed by One City Infrastructure Private Limited in consortium with Mr. Sunil Kumar Jain and Ms. Dipika Jain was approved by 100% of the CoC members.
S J Services Private Limited, a financial creditor, initiated corporate insolvency resolution process (CIRP) against R G Buildestate Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 30.01.2020. Chander Shekhar was appointed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC) on 22.02.2020. The RP invited Expression of Interest (EOI) on 25.05.2020. One City Infrastructure Private Limited in consortium with Mr. Sunil Kumar Jain and Ms. Dipika Jain submitted a resolution plan, which was approved by 100% of the CoC members. The resolution plan proposed a payment of Rs. 2,42,00,000/- to the secured financial creditors. The RP certified that the
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The Adjudicating Authority admitted the…
The Resolution…
The case pertains to an application filed under Sections 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016 (IBC) for the approval of a resolution plan for R G Buildestate Private Limited ('Corporate Debtor'). The insolvency application was initiated by the Financial Creditor, S J Services Private Limited, under Section 7 of the IBC. The Adjudicating Authority admitted the application on 30.01.2020 and appointed an Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted on 22.02.2020. The resolution plan proposed by One City Infrastructure Private Limited in consortium with Mr. Sunil Kumar Jain and Ms. Dipika Jain was approved by 100% of the CoC members.
S J Services Private Limited, a financial creditor, initiated corporate insolvency resolution process (CIRP) against R G Buildestate Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 30.01.2020. Chander Shekhar was appointed as the Resolution Professional (RP). The RP constituted a Committee of Creditors (CoC) on 22.02.2020. The RP invited Expression of Interest (EOI) on 25.05.2020. One City Infrastructure Private Limited in consortium with Mr. Sunil Kumar Jain and Ms. Dipika Jain submitted a resolution plan, which was approved by 100% of the CoC members. The resolution plan proposed a payment of Rs. 2,42,00,000/- to the secured financial creditors. The RP certified that the
…The Adjudicating Authority admitted the…
The Resolution…