The application was filed under Section 30(1) & (6) of the IBC, 2016, regarding the resolution plan of Xenia Adobe Services India Private Limited. The Resolution Professional (RP) sought approval of the resolution plan based on the Committee of Creditors (CoC) approving the plan with 82.51% voting share in their meeting held on 2019-10-03. The IRP was appointed on 2019-01-09.
Xenia Adobe Services India Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). An application was filed under Section 30(1) & (6) of the IBC, 2016. The Resolution Professional (RP), Nagalingam Muthiah, sought approval of a resolution plan. The Committee of Creditors (CoC) approved the resolution plan with 82.51% voting share in a meeting held on 2019-10-03. The accounts of the Corporate Debtor were not classified as NPA as on the date of commencement of the CIRP period. The Resolution Applicant, Mr. Nitin Sadanand, is one of the Promoters-Suspended Director of the Corporate Debtor. The Resolution Applicant proposed to pay more than the liquidation value. The Resolution Applicant wants to manage the Corporate Debtor's entity as a 'going
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The Bench ad…
The Bench appointed Mr. Nagalingam Muthiah…
The application was filed under Section 30(1) & (6) of the IBC, 2016, regarding the resolution plan of Xenia Adobe Services India Private Limited. The Resolution Professional (RP) sought approval of the resolution plan based on the Committee of Creditors (CoC) approving the plan with 82.51% voting share in their meeting held on 2019-10-03. The IRP was appointed on 2019-01-09.
Xenia Adobe Services India Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP). An application was filed under Section 30(1) & (6) of the IBC, 2016. The Resolution Professional (RP), Nagalingam Muthiah, sought approval of a resolution plan. The Committee of Creditors (CoC) approved the resolution plan with 82.51% voting share in a meeting held on 2019-10-03. The accounts of the Corporate Debtor were not classified as NPA as on the date of commencement of the CIRP period. The Resolution Applicant, Mr. Nitin Sadanand, is one of the Promoters-Suspended Director of the Corporate Debtor. The Resolution Applicant proposed to pay more than the liquidation value. The Resolution Applicant wants to manage the Corporate Debtor's entity as a 'going
…The Bench ad…
The Bench appointed Mr. Nagalingam Muthiah…