The case involves a corporate insolvency resolution process (CIRP) initiated against M/S Ajanta Offset and Packaging Limited ('Corporate Debtor') based on an application filed by M/S Amritvani Exim Private Limited, a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Satya Narayana Guddeti was appointed as the Interim Resolution Professional. The Committee of Creditors (CoC) was formed, and several meetings were held to discuss resolution plans. However, the resolution plans submitted by prospective resolution applicants were deemed unfeasible, leading to a resolution for liquidation. Subsequently, the suspended directors of the corporate debtor filed an application seeking consideration of a resolution plan submitted by them, arguing
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S Ajanta Offset and Packaging Limited on 04.02.2020, based on an application by M/S Amritvani Exim Private Limited. The Resolution Professional (RP) carried out a public announcement on 07.02.2020 and constituted a Committee of Creditors (CoC) on 27.02.2020. The CoC rejected the resolution plans submitted by prospective resolution applicants due to feasibility concerns, leading to a resolution for liquidation on 18.06.2021. The suspended directors of the corporate debtor filed an application seeking consideration of their resolution plan, arguing that the corporate debtor, being an MSME, should be eligible for exemptions under Section 240A of the Code. The Adjudicating Authority extended the
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Corporate Insolvency Resolution Process (CIRP)…
Mr. Satya Narayana…
The case involves a corporate insolvency resolution process (CIRP) initiated against M/S Ajanta Offset and Packaging Limited ('Corporate Debtor') based on an application filed by M/S Amritvani Exim Private Limited, a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code, 2016. Mr. Satya Narayana Guddeti was appointed as the Interim Resolution Professional. The Committee of Creditors (CoC) was formed, and several meetings were held to discuss resolution plans. However, the resolution plans submitted by prospective resolution applicants were deemed unfeasible, leading to a resolution for liquidation. Subsequently, the suspended directors of the corporate debtor filed an application seeking consideration of a resolution plan submitted by them, arguing
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/S Ajanta Offset and Packaging Limited on 04.02.2020, based on an application by M/S Amritvani Exim Private Limited. The Resolution Professional (RP) carried out a public announcement on 07.02.2020 and constituted a Committee of Creditors (CoC) on 27.02.2020. The CoC rejected the resolution plans submitted by prospective resolution applicants due to feasibility concerns, leading to a resolution for liquidation on 18.06.2021. The suspended directors of the corporate debtor filed an application seeking consideration of their resolution plan, arguing that the corporate debtor, being an MSME, should be eligible for exemptions under Section 240A of the Code. The Adjudicating Authority extended the
…Corporate Insolvency Resolution Process (CIRP)…
Mr. Satya Narayana…