The case pertains to an application (IA No. 981 of 2020) filed under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a resolution plan for Splendid Metal Products Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the Adjudicating Authority on 04.04.2019, and Mr. T. Sathisan was appointed as the Interim Resolution Professional (IRP), later continuing as the Resolution Professional (RP).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Splendid Metal Products Limited on 04.04.2019. Mr. T. Sathisan was appointed as the Interim Resolution Professional (IRP) and later continued as the Resolution Professional (RP). A public announcement was made, inviting claims from stakeholders. The RP received claims from financial creditors, operational creditors, statutory authorities, workmen, and employees. The RP appointed two registered valuers to determine the fair value and liquidation value of the Corporate Debtor. The Committee of Creditors (CoC) conducted 24 meetings. Expressions of interest were received from four entities: Vedanta Group, Triterras Holdings Pte Limited (THPL) jointly with Invent Assets Securitisation &
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The original…
CIRP of the Corporate…
The case pertains to an application (IA No. 981 of 2020) filed under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a resolution plan for Splendid Metal Products Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the Adjudicating Authority on 04.04.2019, and Mr. T. Sathisan was appointed as the Interim Resolution Professional (IRP), later continuing as the Resolution Professional (RP).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Splendid Metal Products Limited on 04.04.2019. Mr. T. Sathisan was appointed as the Interim Resolution Professional (IRP) and later continued as the Resolution Professional (RP). A public announcement was made, inviting claims from stakeholders. The RP received claims from financial creditors, operational creditors, statutory authorities, workmen, and employees. The RP appointed two registered valuers to determine the fair value and liquidation value of the Corporate Debtor. The Committee of Creditors (CoC) conducted 24 meetings. Expressions of interest were received from four entities: Vedanta Group, Triterras Holdings Pte Limited (THPL) jointly with Invent Assets Securitisation &
…The original…
CIRP of the Corporate…