The Corporate Insolvency Resolution Process (CIRP) of Uttam Galva Metallics Limited commenced on 2018-07-11, following the admission of a Section 7 application filed by State Bank of India. Mr. Rajiv Chakraborty was appointed as the Interim Resolution Professional (IRP). Several miscellaneous applications were filed, including one by Noble Resources International Pte. Ltd., an operational creditor, seeking clarification on whether minutes of the Committee of Creditors (CoC) meetings should be shared with unsuccessful resolution applicants. Investment Opportunities IV Pte. Ltd. & Ors. (SSG Group) also filed applications seeking inspection of records and objecting to the resolution plan approved by the CoC.
The Corporate Insolvency Resolution Process (CIRP) of Uttam Galva Metallics Limited was initiated on July 11, 2018, based on a Section 7 application by State Bank of India. Rajiv Chakraborty was appointed as the Interim Resolution Professional (IRP). Noble Resources International Pte. Ltd., an operational creditor with a debt of ₹171,04,65,643, filed a Miscellaneous Application seeking clarification on sharing CoC meeting minutes with unsuccessful resolution applicants. Investment Opportunities IV Pte. Ltd. & Ors. (SSG Group), an unsuccessful resolution applicant, filed applications seeking inspection of records and objecting to the approved resolution plan of Carval Investors. SSG Group argued that Carval's plan was of lesser value and the CIRP process was flawed.
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Corporate Insolvency Resolution Process of…
Tribunal directed…
The Corporate Insolvency Resolution Process (CIRP) of Uttam Galva Metallics Limited commenced on 2018-07-11, following the admission of a Section 7 application filed by State Bank of India. Mr. Rajiv Chakraborty was appointed as the Interim Resolution Professional (IRP). Several miscellaneous applications were filed, including one by Noble Resources International Pte. Ltd., an operational creditor, seeking clarification on whether minutes of the Committee of Creditors (CoC) meetings should be shared with unsuccessful resolution applicants. Investment Opportunities IV Pte. Ltd. & Ors. (SSG Group) also filed applications seeking inspection of records and objecting to the resolution plan approved by the CoC.
The Corporate Insolvency Resolution Process (CIRP) of Uttam Galva Metallics Limited was initiated on July 11, 2018, based on a Section 7 application by State Bank of India. Rajiv Chakraborty was appointed as the Interim Resolution Professional (IRP). Noble Resources International Pte. Ltd., an operational creditor with a debt of ₹171,04,65,643, filed a Miscellaneous Application seeking clarification on sharing CoC meeting minutes with unsuccessful resolution applicants. Investment Opportunities IV Pte. Ltd. & Ors. (SSG Group), an unsuccessful resolution applicant, filed applications seeking inspection of records and objecting to the approved resolution plan of Carval Investors. SSG Group argued that Carval's plan was of lesser value and the CIRP process was flawed.
…Corporate Insolvency Resolution Process of…
Tribunal directed…