The case involves an application (I.A. No. 2072 of 2020) within a Corporate Insolvency Resolution Process (CIRP) initiated under C.P. (IB) No. 3508/MB/2018. The CIRP was admitted on 2019-04-26. The applicants are the Successful Resolution Applicants in the CIRP. Their Resolution Plan was approved by the Committee of Creditors (CoC) with 82.25% voting share, which was approved by the Tribunal on 2020-08-03. The applicants are now seeking an extension of time to implement the approved Resolution Plan due to difficulties arising from the Covid-19 pandemic.
The Corporate Insolvency Resolution Process (CIRP) for Siddharth Milk and Milk Products Private Limited was initiated and admitted by the Tribunal on 2019-04-26. The Resolution Plan submitted by the Applicants was approved by the Committee of Creditors (CoC) with 82.25% voting share and subsequently approved by the Tribunal on 2020-08-03. The Applicants, being the Successful Resolution Applicants, are now seeking an extension of time to implement the approved Resolution Plan. The original schedule for various obligations under the Resolution Plan is compared with a revised schedule, indicating delays. The primary reason cited for seeking the extension is the disruption caused by the Covid-19 pandemic, which has hindered business operations. Suraksha Asset
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Company Petition bearing No. 3508 of 2018…
Corporate Insolvency…
The case involves an application (I.A. No. 2072 of 2020) within a Corporate Insolvency Resolution Process (CIRP) initiated under C.P. (IB) No. 3508/MB/2018. The CIRP was admitted on 2019-04-26. The applicants are the Successful Resolution Applicants in the CIRP. Their Resolution Plan was approved by the Committee of Creditors (CoC) with 82.25% voting share, which was approved by the Tribunal on 2020-08-03. The applicants are now seeking an extension of time to implement the approved Resolution Plan due to difficulties arising from the Covid-19 pandemic.
The Corporate Insolvency Resolution Process (CIRP) for Siddharth Milk and Milk Products Private Limited was initiated and admitted by the Tribunal on 2019-04-26. The Resolution Plan submitted by the Applicants was approved by the Committee of Creditors (CoC) with 82.25% voting share and subsequently approved by the Tribunal on 2020-08-03. The Applicants, being the Successful Resolution Applicants, are now seeking an extension of time to implement the approved Resolution Plan. The original schedule for various obligations under the Resolution Plan is compared with a revised schedule, indicating delays. The primary reason cited for seeking the extension is the disruption caused by the Covid-19 pandemic, which has hindered business operations. Suraksha Asset
…Company Petition bearing No. 3508 of 2018…
Corporate Insolvency…