The case involves an application (IA-2971/2022) filed by the Resolution Professional (RP) of M/s. Amzen Machines (P) Ltd. ("Corporate Debtor") under Section 30(6) read with Section 31 and Section 60(5) of the Insolvency & Bankruptcy Code, 2016, along with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016, seeking approval of the Resolution Plan submitted by the Successful Resolution Applicant (SRA), RKG ASSET MANAGEMENT LLP, RKG Fund-I. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Punjab National Bank ("Financial Creditor") under Section 7 of the Code. The
…Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Amzen Machines (P) Ltd. under Section 7 of the IBC, leading to the appointment of Anurag Goel as the Interim Resolution Professional (IRP). The Adjudicating Authority admitted the petition on March 11, 2021. Public announcements were made to invite claims from creditors. The IRP constituted a Committee of Creditors (CoC). The CoC confirmed the Applicant as the Resolution Professional (RP). The RP received total claims amounting to Rs. 5,32,31,40,361. The fair value of the Corporate Debtor was valued at Rs. 139,35,00,000, and the liquidation value was Rs. 93,12,00,000. The RP invited Expression of Interest (Eol) and received five Eols, but one was found ineligible. The CoC decided to
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The case involves an application (IA-2971/2022) filed by the Resolution Professional (RP) of M/s. Amzen Machines (P) Ltd. ("Corporate Debtor") under Section 30(6) read with Section 31 and Section 60(5) of the Insolvency & Bankruptcy Code, 2016, along with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016, seeking approval of the Resolution Plan submitted by the Successful Resolution Applicant (SRA), RKG ASSET MANAGEMENT LLP, RKG Fund-I. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Punjab National Bank ("Financial Creditor") under Section 7 of the Code. The
…Punjab National Bank initiated Corporate Insolvency Resolution Process (CIRP) against Amzen Machines (P) Ltd. under Section 7 of the IBC, leading to the appointment of Anurag Goel as the Interim Resolution Professional (IRP). The Adjudicating Authority admitted the petition on March 11, 2021. Public announcements were made to invite claims from creditors. The IRP constituted a Committee of Creditors (CoC). The CoC confirmed the Applicant as the Resolution Professional (RP). The RP received total claims amounting to Rs. 5,32,31,40,361. The fair value of the Corporate Debtor was valued at Rs. 139,35,00,000, and the liquidation value was Rs. 93,12,00,000. The RP invited Expression of Interest (Eol) and received five Eols, but one was found ineligible. The CoC decided to
…The Adjudicating Authority admitted the…
Public announcements…