The case pertains to an application filed by the Resolution Professional (RP) of Adico Forge Private Limited under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of the Resolution Plan. The Resolution Plan was approved by the Committee of Creditors (CoC) with a majority of 92.87% in its 9th meeting. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC, 2016, filed by Sunflag Iron & Steel Company Limited, an Operational Creditor. The application was admitted on 23.06.2022. The RP then invited claims from creditors, conducted CoC meetings, and
…1. An application was filed by the Resolution Professional (RP) under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of the Resolution Plan.
2. The Committee of Creditors (CoC) approved the Resolution Plan with a majority of 92.87% in its 9th meeting.
3. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC, 2016, filed by Sunflag Iron & Steel Company Limited, an Operational Creditor.
4. The application was admitted on 23.06.2022, and Mr. Valkati Balasubramanyam Reddy was appointed as Interim Resolution Professional (IRP).
5. Public announcement in Form A was published inviting claims from all the creditors on or before 29.07.2023.
6. The 1st CoC meeting was
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Application under section 9 of IB Code, 2016 was…
Public Announcement in Form A was published…
The case pertains to an application filed by the Resolution Professional (RP) of Adico Forge Private Limited under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of the Resolution Plan. The Resolution Plan was approved by the Committee of Creditors (CoC) with a majority of 92.87% in its 9th meeting. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC, 2016, filed by Sunflag Iron & Steel Company Limited, an Operational Creditor. The application was admitted on 23.06.2022. The RP then invited claims from creditors, conducted CoC meetings, and
…1. An application was filed by the Resolution Professional (RP) under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of the Resolution Plan.
2. The Committee of Creditors (CoC) approved the Resolution Plan with a majority of 92.87% in its 9th meeting.
3. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 9 of the IBC, 2016, filed by Sunflag Iron & Steel Company Limited, an Operational Creditor.
4. The application was admitted on 23.06.2022, and Mr. Valkati Balasubramanyam Reddy was appointed as Interim Resolution Professional (IRP).
5. Public announcement in Form A was published inviting claims from all the creditors on or before 29.07.2023.
6. The 1st CoC meeting was
Application under section 9 of IB Code, 2016 was…
Public Announcement in Form A was published…