The case pertains to IA 352 of 2019 in CP(IB) No. 162/NCLT/AHM/2018, filed by the Resolution Professional (RP) of Shaifali Rolls Limited under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan submitted by a consortium. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by SMC Industries Pvt. Ltd., an Operational Creditor, under Section 9 of the Code. The RP made a public announcement inviting claims from creditors, constituted a Committee of Creditors (CoC), and invited Expression of Interest (Eol) from prospective resolution applicants. Two resolution plans were received, one of which was rejected. The CoC approved the resolution plan submitted by Fitcast Founders & Engineers
…SMC Industries Pvt. Ltd., an Operational Creditor, filed CP(IB)No. 162/2018 under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Shaifali Rolls Limited. The application was admitted on 2018-09-14. Shri Parag Sheth was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors. Claims amounting to Rs. 254,58,89,078.57 were received and admitted. The Committee of Creditors (CoC) was constituted. The first meeting of the CoC was convened on 2018-10-12, where it was recommended to replace IRP Shri Parag Sheth. Shri Rajat Mukheerjee was appointed as the Resolution Professional (RP). The RP received two resolution plans, one from
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CP(IB) No. 162/2018 was…
The Resolution…
The case pertains to IA 352 of 2019 in CP(IB) No. 162/NCLT/AHM/2018, filed by the Resolution Professional (RP) of Shaifali Rolls Limited under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan submitted by a consortium. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by SMC Industries Pvt. Ltd., an Operational Creditor, under Section 9 of the Code. The RP made a public announcement inviting claims from creditors, constituted a Committee of Creditors (CoC), and invited Expression of Interest (Eol) from prospective resolution applicants. Two resolution plans were received, one of which was rejected. The CoC approved the resolution plan submitted by Fitcast Founders & Engineers
…SMC Industries Pvt. Ltd., an Operational Creditor, filed CP(IB)No. 162/2018 under Section 9 of the Insolvency and Bankruptcy Code, 2016, seeking initiation of Corporate Insolvency Resolution Process (CIRP) against Shaifali Rolls Limited. The application was admitted on 2018-09-14. Shri Parag Sheth was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors. Claims amounting to Rs. 254,58,89,078.57 were received and admitted. The Committee of Creditors (CoC) was constituted. The first meeting of the CoC was convened on 2018-10-12, where it was recommended to replace IRP Shri Parag Sheth. Shri Rajat Mukheerjee was appointed as the Resolution Professional (RP). The RP received two resolution plans, one from
…CP(IB) No. 162/2018 was…
The Resolution…