The case involves an application (IA No. 70/2021) filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for the Corporate Debtor, V S Lignite Power Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Hyderabad bench on 18.09.2019. Dr. Govindarajula Venkata Narasimha Rao was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The CoC received three resolution plans and ultimately approved the plan submitted by Sherisha Technologies Pvt. Ltd. The application was filed to get the resolution plan approved by the NCLT.
The Corporate Insolvency Resolution Process (CIRP) was initiated against V S Lignite Power Private Limited. Dr. Govindarajula Venkata Narasimha Rao was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) comprised several financial creditors, including Prudent ARC Limited, Housing and Urban Development Corporation Ltd. (HUDCO), State Bank of India, REC Limited, IFCI Limited, Axis Bank Ltd., and Bank of Baroda. The CoC received three resolution plans from Sherisha Technologies Pvt. Ltd., Consortium of Manikaran Power Limited & ACB (India) Power Pvt. Ltd., and Ilabs Hyderabad Technology Centre. The CoC approved the resolution plan submitted by Sherisha Technologies Pvt. Ltd. with a 100% voting share. The total consideration under the
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Corporate Insolvency Resolution Process (CIRP)…
Dr. Govindarajula Venkata Narasimha Rao was…
The case involves an application (IA No. 70/2021) filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for the Corporate Debtor, V S Lignite Power Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Hyderabad bench on 18.09.2019. Dr. Govindarajula Venkata Narasimha Rao was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The CoC received three resolution plans and ultimately approved the plan submitted by Sherisha Technologies Pvt. Ltd. The application was filed to get the resolution plan approved by the NCLT.
The Corporate Insolvency Resolution Process (CIRP) was initiated against V S Lignite Power Private Limited. Dr. Govindarajula Venkata Narasimha Rao was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) comprised several financial creditors, including Prudent ARC Limited, Housing and Urban Development Corporation Ltd. (HUDCO), State Bank of India, REC Limited, IFCI Limited, Axis Bank Ltd., and Bank of Baroda. The CoC received three resolution plans from Sherisha Technologies Pvt. Ltd., Consortium of Manikaran Power Limited & ACB (India) Power Pvt. Ltd., and Ilabs Hyderabad Technology Centre. The CoC approved the resolution plan submitted by Sherisha Technologies Pvt. Ltd. with a 100% voting share. The total consideration under the
…Corporate Insolvency Resolution Process (CIRP)…
Dr. Govindarajula Venkata Narasimha Rao was…