The case involves an Interlocutory Application filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of a Resolution Plan under Section 31(1) of the IBC. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Vaksh Steels Private Limited after a petition filed by State Bank of India (SBI) under Section 7 of the IBC was admitted on 14.02.2019. Kalvakolanu Murali Krishna Prasad was appointed as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional. The Resolution Professional received two resolution plans from M/s SVSS Commercial Pvt Limited and M/s Kamani Metalliks Private Limited. After revisions and deliberations, the CoC approved the resolution
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Vaksh Steels Private Limited following the admission of a petition filed by State Bank of India (SBI) under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 14.02.2019. Kalvakolanu Murali Krishna Prasad was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The Resolution Professional issued public announcements inviting claims from creditors. The Committee of Creditors (CoC) was initially comprised of State Bank of India (SBI) with 100% voting share and later replaced by Prudent ARC Limited. The Resolution Professional received two resolution plans from M/s SVSS Commercial Pvt Limited and M/s Kamani Metalliks Private Limited. The
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Company P…
Company Petition bearing CP(IB) No.…
The case involves an Interlocutory Application filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of a Resolution Plan under Section 31(1) of the IBC. The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Vaksh Steels Private Limited after a petition filed by State Bank of India (SBI) under Section 7 of the IBC was admitted on 14.02.2019. Kalvakolanu Murali Krishna Prasad was appointed as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional. The Resolution Professional received two resolution plans from M/s SVSS Commercial Pvt Limited and M/s Kamani Metalliks Private Limited. After revisions and deliberations, the CoC approved the resolution
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Vaksh Steels Private Limited following the admission of a petition filed by State Bank of India (SBI) under Section 7 of the Insolvency and Bankruptcy Code (IBC) on 14.02.2019. Kalvakolanu Murali Krishna Prasad was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The Resolution Professional issued public announcements inviting claims from creditors. The Committee of Creditors (CoC) was initially comprised of State Bank of India (SBI) with 100% voting share and later replaced by Prudent ARC Limited. The Resolution Professional received two resolution plans from M/s SVSS Commercial Pvt Limited and M/s Kamani Metalliks Private Limited. The
…Company P…
Company Petition bearing CP(IB) No.…