The case involves an application (IA No. 586/2019) filed in relation to a Corporate Insolvency Resolution Process (CIRP) initiated against Shree Raghav Ispat (India) Private Limited. The application seeks approval of a resolution plan that has been approved by the Committee of Creditors (CoC) with 100% voting rights. The resolution plan outlines the amounts provided for stakeholders, including insolvency resolution process costs, workmen dues, and payments to operational and financial creditors. The plan also includes a timeline for implementation and details regarding the management and control of the corporate debtor during the plan's term.
M/s. BMM Ispat Limited initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Shree Raghav Ispat (India) Private Limited under CP (IB) No.126/9/HDB/2017. M/s. Shree Raghav Ispat (India) Private Limited is the Corporate Debtor. M/s. Kaplana G, a Resolution Professional, represented M/s. Shree Raghav Ispat (India) Private Limited. The Committee of Creditors (CoC) approved a resolution plan with 100% voting rights. The resolution plan includes provisions for payment of insolvency resolution process costs (Rs. 28,00,000), workmen dues (Nil), operational creditors (Rs. 6,00,000), secured financial creditors (Rs. 5,50,55,000), unsecured financial creditors (Nil), other creditors (Nil), and statutory dues (Nil), totaling Rs. 5,84,55,000. The resolution
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The case involves an application (IA No. 586/2019) filed in relation to a Corporate Insolvency Resolution Process (CIRP) initiated against Shree Raghav Ispat (India) Private Limited. The application seeks approval of a resolution plan that has been approved by the Committee of Creditors (CoC) with 100% voting rights. The resolution plan outlines the amounts provided for stakeholders, including insolvency resolution process costs, workmen dues, and payments to operational and financial creditors. The plan also includes a timeline for implementation and details regarding the management and control of the corporate debtor during the plan's term.
M/s. BMM Ispat Limited initiated a Corporate Insolvency Resolution Process (CIRP) against M/s. Shree Raghav Ispat (India) Private Limited under CP (IB) No.126/9/HDB/2017. M/s. Shree Raghav Ispat (India) Private Limited is the Corporate Debtor. M/s. Kaplana G, a Resolution Professional, represented M/s. Shree Raghav Ispat (India) Private Limited. The Committee of Creditors (CoC) approved a resolution plan with 100% voting rights. The resolution plan includes provisions for payment of insolvency resolution process costs (Rs. 28,00,000), workmen dues (Nil), operational creditors (Rs. 6,00,000), secured financial creditors (Rs. 5,50,55,000), unsecured financial creditors (Nil), other creditors (Nil), and statutory dues (Nil), totaling Rs. 5,84,55,000. The resolution
…Corporate Insolvency Resolution Process…
The members of CoC in the 10th CoC meeting…
Sign in to view related legal provisions.