The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Vardhman Chemtech Limited, with Allahabad Bank as the Financial Creditor. The insolvency petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated on 25.09.2018. The Committee of Creditors (CoC) was formed, consisting of Allahabad Bank, State Bank of India, State Bank of Patiala, State Bank of Hyderabad, and IDBI Bank. The Resolution Professional (RP) was appointed, and a resolution plan was submitted by M/s. DPB Antibiotics Private Limited. The RP sought approval of the resolution plan under Section 31(1) of the Code.
Allahabad Bank filed an insolvency petition against M/s. Vardhman Chemtech Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 25.09.2018, initiating the CIRP. Mr. Manoj Sehgal was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors. The CoC was constituted with Allahabad Bank, State Bank of India, State Bank of Patiala, State Bank of Hyderabad, and IDBI Bank as secured Financial Creditors. The IRP appointed two valuers to determine the liquidation value of the corporate debtor. The CoC approved the appointment of the IRP as the Resolution Professional (RP). The CoC approved the Eligibility Criteria and Evaluation Matrix for resolution applicants.
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CIRP initiated against…
Moratorium imposed…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against M/s. Vardhman Chemtech Limited, with Allahabad Bank as the Financial Creditor. The insolvency petition was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated on 25.09.2018. The Committee of Creditors (CoC) was formed, consisting of Allahabad Bank, State Bank of India, State Bank of Patiala, State Bank of Hyderabad, and IDBI Bank. The Resolution Professional (RP) was appointed, and a resolution plan was submitted by M/s. DPB Antibiotics Private Limited. The RP sought approval of the resolution plan under Section 31(1) of the Code.
Allahabad Bank filed an insolvency petition against M/s. Vardhman Chemtech Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 25.09.2018, initiating the CIRP. Mr. Manoj Sehgal was appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors. The CoC was constituted with Allahabad Bank, State Bank of India, State Bank of Patiala, State Bank of Hyderabad, and IDBI Bank as secured Financial Creditors. The IRP appointed two valuers to determine the liquidation value of the corporate debtor. The CoC approved the appointment of the IRP as the Resolution Professional (RP). The CoC approved the Eligibility Criteria and Evaluation Matrix for resolution applicants.
…CIRP initiated against…
Moratorium imposed…