The case pertains to an application filed under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for approval of a Resolution Plan for SPS Metal Cast & Alloys Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a company petition filed by Jai Balaji Industries Limited against SPS Metal Cast & Alloys Limited under section 9 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 25.06.2019. Initially, Mr. Rakesh Agarwal was appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. Avishek Gupta as the Resolution
…Jai Balaji Industries Limited initiated Corporate Insolvency Resolution Process (CIRP) against SPS Metal Cast & Alloys Limited by filing a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), which was admitted on 25.06.2019. Rakesh Agarwal was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Avishek Gupta. The Committee of Creditors (CoC) was formed on 16.07.2019, initially with two financial creditors, later reconstituted with four. The CIRP timeline was extended with the Adjudicating Authority's approval. The RP issued invitations for Expressions of Interest (Eol), receiving three responses, and ultimately received one Resolution Plan from Bravo Sponge Iron Private Limited on 14.01.2020. The Resolution
…Sign in to view the parties.
Filing of the…
The Company Petition filed by Jai Balaji…
The case pertains to an application filed under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for approval of a Resolution Plan for SPS Metal Cast & Alloys Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a company petition filed by Jai Balaji Industries Limited against SPS Metal Cast & Alloys Limited under section 9 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 25.06.2019. Initially, Mr. Rakesh Agarwal was appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. Avishek Gupta as the Resolution
…Jai Balaji Industries Limited initiated Corporate Insolvency Resolution Process (CIRP) against SPS Metal Cast & Alloys Limited by filing a petition under Section 9 of the Insolvency and Bankruptcy Code (IBC), which was admitted on 25.06.2019. Rakesh Agarwal was initially appointed as the Interim Resolution Professional (IRP) but was later replaced by Avishek Gupta. The Committee of Creditors (CoC) was formed on 16.07.2019, initially with two financial creditors, later reconstituted with four. The CIRP timeline was extended with the Adjudicating Authority's approval. The RP issued invitations for Expressions of Interest (Eol), receiving three responses, and ultimately received one Resolution Plan from Bravo Sponge Iron Private Limited on 14.01.2020. The Resolution
…Filing of the…
The Company Petition filed by Jai Balaji…