The case involves an application (IA(IBC)/1046(CHE)/2021) filed by the Resolution Professional (RP) seeking approval of the Resolution Plan for the Corporate Debtor, M/s. Alkas Spinning Mills Private Limited, under Section 30(6) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC, 2016, by an Operational Creditor. The Tribunal ordered the CIRP on 05.05.2020. The RP published a Form G inviting Expression of Interest (EoI) with a last date of 01.04.2021. KSV Cotton Mills Private Limited submitted a Resolution Plan, which was approved by the CoC. However, several applications were filed by the Suspended Directors of the Corporate Debtor objecting to the Resolution
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Alkas Spinning Mills Private Limited based on an application under Section 9 of the IBC, 2016, by an Operational Creditor. The CIRP was ordered by the Tribunal on 05.05.2020. Mr. Kannan Sambasivam was appointed as the IRP. The IRP caused paper publication on 09.05.2020. Union Bank of India submitted a claim of Rs.9,64,06,229.70/-, and the CoC was constituted with Union Bank of India as the sole Financial Creditor. The Form G inviting Expression of Interest (EoI) was published on 16.03.2021, with a last date of 01.04.2021. KSV Cotton Mills Private Limited submitted an EoI on 19.04.2021, after the expiry of the deadline. The CoC approved the Resolution Plan submitted by KSV Cotton Mills Private
…Sign in to view the parties.
The Tribunal ordered…
The IRP caused paper…
The case involves an application (IA(IBC)/1046(CHE)/2021) filed by the Resolution Professional (RP) seeking approval of the Resolution Plan for the Corporate Debtor, M/s. Alkas Spinning Mills Private Limited, under Section 30(6) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC, 2016, by an Operational Creditor. The Tribunal ordered the CIRP on 05.05.2020. The RP published a Form G inviting Expression of Interest (EoI) with a last date of 01.04.2021. KSV Cotton Mills Private Limited submitted a Resolution Plan, which was approved by the CoC. However, several applications were filed by the Suspended Directors of the Corporate Debtor objecting to the Resolution
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Alkas Spinning Mills Private Limited based on an application under Section 9 of the IBC, 2016, by an Operational Creditor. The CIRP was ordered by the Tribunal on 05.05.2020. Mr. Kannan Sambasivam was appointed as the IRP. The IRP caused paper publication on 09.05.2020. Union Bank of India submitted a claim of Rs.9,64,06,229.70/-, and the CoC was constituted with Union Bank of India as the sole Financial Creditor. The Form G inviting Expression of Interest (EoI) was published on 16.03.2021, with a last date of 01.04.2021. KSV Cotton Mills Private Limited submitted an EoI on 19.04.2021, after the expiry of the deadline. The CoC approved the Resolution Plan submitted by KSV Cotton Mills Private
…The Tribunal ordered…
The IRP caused paper…