The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/S Uniworld Sugars Private Limited. The CIRP was initiated on 29.05.2018 following the admission of an application filed by the Operational Creditor, M/S Ranansaria Poly Pack Pvt. Ltd, under Section 9 of the Insolvency and Bankruptcy Code (IBC). Mr. Pramod Kumar Sharma was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several Committee of Creditors (COC) meetings were convened to consider resolution plans. Despite efforts, initial resolution plans were not approved. NCIRCLE Exim LLP submitted a resolution plan, which was eventually approved by the COC with 100% voting rights. The operational creditor raised
…1. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S Uniworld Sugars Private Limited on 29.05.2018 based on an application by the Operational Creditor, M/S Ranansaria Poly Pack Pvt. Ltd, under Section 9 of the IBC.
2. Mr. Pramod Kumar Sharma was appointed as the IRP and later confirmed as the RP.
3. Several COC meetings were held, and various resolution plans were considered.
4. NCIRCLE Exim LLP submitted a resolution plan that was approved by the COC with 100% voting share on 27th October, 2020, with the result of e-voting declared on 8th November, 2020.
5. The Operational Creditor, M/S Ranansaria Poly Pack Pvt. Ltd, objected to the approved resolution plan, citing concerns about the CIRP cost and the treatment of operational creditors, claiming
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Corporate Insolvency Resolution Process…
Mr. Pramod Kumar Sharma…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/S Uniworld Sugars Private Limited. The CIRP was initiated on 29.05.2018 following the admission of an application filed by the Operational Creditor, M/S Ranansaria Poly Pack Pvt. Ltd, under Section 9 of the Insolvency and Bankruptcy Code (IBC). Mr. Pramod Kumar Sharma was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Several Committee of Creditors (COC) meetings were convened to consider resolution plans. Despite efforts, initial resolution plans were not approved. NCIRCLE Exim LLP submitted a resolution plan, which was eventually approved by the COC with 100% voting rights. The operational creditor raised
…1. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S Uniworld Sugars Private Limited on 29.05.2018 based on an application by the Operational Creditor, M/S Ranansaria Poly Pack Pvt. Ltd, under Section 9 of the IBC.
2. Mr. Pramod Kumar Sharma was appointed as the IRP and later confirmed as the RP.
3. Several COC meetings were held, and various resolution plans were considered.
4. NCIRCLE Exim LLP submitted a resolution plan that was approved by the COC with 100% voting share on 27th October, 2020, with the result of e-voting declared on 8th November, 2020.
5. The Operational Creditor, M/S Ranansaria Poly Pack Pvt. Ltd, objected to the approved resolution plan, citing concerns about the CIRP cost and the treatment of operational creditors, claiming
Corporate Insolvency Resolution Process…
Mr. Pramod Kumar Sharma…