The case involves a corporate insolvency resolution process (CIRP) initiated by Technology Parks Limited against Alchemist Infra Realty Limited ('Corporate Debtor') under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was accepted, and CIRP was initiated on 2022-03-23. Several extensions were granted for submission of a resolution plan, and multiple invitations for expression of interest were issued. Vantage Point Asset Management Pte. Limited submitted a resolution plan, which was approved by the Committee of Creditors (CoC) with 100% voting share. The resolution plan was then presented to the NCLT for approval.
Technology Parks Limited initiated CIRP against Alchemist Infra Realty Limited due to a default of Rs.4,01,47,37,480/-. The CIRP commenced on 2022-03-23. Mr. Gaurav Misra was appointed as the IRP and later confirmed as RP. The CoC was formed, including Technology Parks Limited as a financial creditor with 43.29% voting share and other financial creditors in a class with 56.71% voting share. Several extensions were granted for submission of a resolution plan. Vantage Point Asset Management Pte. Limited submitted a resolution plan, depositing an Earnest Money Deposit (EMD) of Rs.50,00,000/-. The CoC approved the resolution plan with 100% voting share. The resolution plan proposed a financial outlay of Rs.470.92 Crore, including payments to CIRP costs, financial
…Sign in to view the parties.
The Corporate…
The applicati…
The case involves a corporate insolvency resolution process (CIRP) initiated by Technology Parks Limited against Alchemist Infra Realty Limited ('Corporate Debtor') under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was accepted, and CIRP was initiated on 2022-03-23. Several extensions were granted for submission of a resolution plan, and multiple invitations for expression of interest were issued. Vantage Point Asset Management Pte. Limited submitted a resolution plan, which was approved by the Committee of Creditors (CoC) with 100% voting share. The resolution plan was then presented to the NCLT for approval.
Technology Parks Limited initiated CIRP against Alchemist Infra Realty Limited due to a default of Rs.4,01,47,37,480/-. The CIRP commenced on 2022-03-23. Mr. Gaurav Misra was appointed as the IRP and later confirmed as RP. The CoC was formed, including Technology Parks Limited as a financial creditor with 43.29% voting share and other financial creditors in a class with 56.71% voting share. Several extensions were granted for submission of a resolution plan. Vantage Point Asset Management Pte. Limited submitted a resolution plan, depositing an Earnest Money Deposit (EMD) of Rs.50,00,000/-. The CoC approved the resolution plan with 100% voting share. The resolution plan proposed a financial outlay of Rs.470.92 Crore, including payments to CIRP costs, financial
…The Corporate…
The applicati…