Corporate Insolvency Resolution Process (CIRP) was initiated for Maa Durga Rice Processing & Exports Pvt. Ltd. (Corporate Debtor) on 04.09.2019. The CD was identified as an MSME. Mrs. Loramitra Rath, a director and guarantor, submitted a Resolution Plan which was accepted by the Committee of Creditors (CoC) on 19.01.2022. The initial application for approval of this plan (IA(IB) 42/CB/2022) was dismissed, and a liquidation order was passed on 05.04.2022. The Hon'ble High Court of Orissa subsequently set aside the liquidation order on 19.05.2022, referring the matter back to the Adjudicating Authority. IA(IB) No.225/CB/2022 for restoration of IA(IB) 42/CB/2022 was allowed on 28.02.2023. During the pendency of IA 42, the Resolution Professional (RP) filed IA(IB) No.
…Maa Durga Rice Processing & Exports Pvt. Ltd. (CD) was admitted into CIRP vide order dated 04.09.2019.
During the CIRP period, the Government of India redefined MSME units, making the CD eligible as an MSME.
Prasant Chandra Rath, a promoter and guarantor of the CD, expressed intention to submit EOI, claiming exemption from Section 29A under Section 240A of the Code.
The Resolution Applicant (Mrs. Loramitra Rath) submitted an affidavit dated 18.10.2021 confirming eligibility under Section 29A, stating her turnover was less than 250.00 crores.
The CoC, at its meeting on 03.07.2020, allowed the promoters to submit EOI as the CD was a registered Small-Scale unit.
…Sign in to view the parties.
Maa Durga Rice Processing & Exports Pvt. Ltd.…
New MSME notification S.O.2119(E) issued…
Corporate Insolvency Resolution Process (CIRP) was initiated for Maa Durga Rice Processing & Exports Pvt. Ltd. (Corporate Debtor) on 04.09.2019. The CD was identified as an MSME. Mrs. Loramitra Rath, a director and guarantor, submitted a Resolution Plan which was accepted by the Committee of Creditors (CoC) on 19.01.2022. The initial application for approval of this plan (IA(IB) 42/CB/2022) was dismissed, and a liquidation order was passed on 05.04.2022. The Hon'ble High Court of Orissa subsequently set aside the liquidation order on 19.05.2022, referring the matter back to the Adjudicating Authority. IA(IB) No.225/CB/2022 for restoration of IA(IB) 42/CB/2022 was allowed on 28.02.2023. During the pendency of IA 42, the Resolution Professional (RP) filed IA(IB) No.
…Maa Durga Rice Processing & Exports Pvt. Ltd. (CD) was admitted into CIRP vide order dated 04.09.2019.
During the CIRP period, the Government of India redefined MSME units, making the CD eligible as an MSME.
Prasant Chandra Rath, a promoter and guarantor of the CD, expressed intention to submit EOI, claiming exemption from Section 29A under Section 240A of the Code.
The Resolution Applicant (Mrs. Loramitra Rath) submitted an affidavit dated 18.10.2021 confirming eligibility under Section 29A, stating her turnover was less than 250.00 crores.
The CoC, at its meeting on 03.07.2020, allowed the promoters to submit EOI as the CD was a registered Small-Scale unit.
…Maa Durga Rice Processing & Exports Pvt. Ltd.…
New MSME notification S.O.2119(E) issued…