The case pertains to an application under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for Shree Kedarnath Sugar and Agro Products Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 21/08/2019. The applicant, Bhuvnesh Maheshwari, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 24/09/2019. The RP conducted the CIRP in compliance with the Code and Rules.
The Corporate Insolvency Resolution Process (CIRP) of Shree Kedarnath Sugar and Agro Products Limited was initiated by the NCLT Mumbai Bench on 21/08/2019. Bhuvnesh Maheshwari was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 24/09/2019. Two resolution plans were received, one from Shri Sai Priya Sugars Limited and another from Twentyone Sugars Limited. The CoC accepted the resolution plan submitted by Shri Sai Priya Sugars Limited with a voting share of 95.21%. The resolution plan proposed an infusion of Rs. 60 Crores within 30 days of approval. The plan included payments to CIRP costs (Rs. 0.90 Crores), secured financial creditors (Rs. 54.25 Crores), workmen's dues
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Corporate Insolvency Resolution Process (CIRP)…
The Committee of Creditors (CoC) confirmed the…
The case pertains to an application under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for Shree Kedarnath Sugar and Agro Products Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 21/08/2019. The applicant, Bhuvnesh Maheshwari, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 24/09/2019. The RP conducted the CIRP in compliance with the Code and Rules.
The Corporate Insolvency Resolution Process (CIRP) of Shree Kedarnath Sugar and Agro Products Limited was initiated by the NCLT Mumbai Bench on 21/08/2019. Bhuvnesh Maheshwari was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 24/09/2019. Two resolution plans were received, one from Shri Sai Priya Sugars Limited and another from Twentyone Sugars Limited. The CoC accepted the resolution plan submitted by Shri Sai Priya Sugars Limited with a voting share of 95.21%. The resolution plan proposed an infusion of Rs. 60 Crores within 30 days of approval. The plan included payments to CIRP costs (Rs. 0.90 Crores), secured financial creditors (Rs. 54.25 Crores), workmen's dues
…Corporate Insolvency Resolution Process (CIRP)…
The Committee of Creditors (CoC) confirmed the…