The case involves multiple applications (IAs) related to the Corporate Insolvency Resolution Process (CIRP) of ARC Lamicraft Private Limited. The CIRP was initiated following a petition filed by MP Resources under Section 9 of the IBC, 2016. The IAs include approval of a resolution plan submitted by Sun Chemicals, rejection of the same plan sought by MP Resources, exclusion of certain periods from the CIRP, and other related matters. The CoC was formed, and several meetings were held to discuss and approve the resolution plan. The resolution plan was approved by the CoC with 100% voting share.
ARC Lamicraft Private Limited was admitted into CIRP following a petition by MP Resources. An Interim Resolution Professional (IRP) was appointed, and a public announcement was made inviting claims from creditors. The Committee of Creditors (CoC) was constituted, with Union Bank of India holding 100% voting share. Several CoC meetings were held to discuss and approve a resolution plan. Sun Chemicals submitted a resolution plan, which was later revised. MP Resources filed an application seeking rejection of the resolution plan, alleging non-compliance with Section 29A of the IBC and related party transactions. The Resolution Professional (RP) filed a reply, stating that the Corporate Debtor was a registered MSME and that the partner of Sun Chemicals was not a related
…Sign in to view the parties.
ARC Lamicraft Private…
IRP made a public…
The case involves multiple applications (IAs) related to the Corporate Insolvency Resolution Process (CIRP) of ARC Lamicraft Private Limited. The CIRP was initiated following a petition filed by MP Resources under Section 9 of the IBC, 2016. The IAs include approval of a resolution plan submitted by Sun Chemicals, rejection of the same plan sought by MP Resources, exclusion of certain periods from the CIRP, and other related matters. The CoC was formed, and several meetings were held to discuss and approve the resolution plan. The resolution plan was approved by the CoC with 100% voting share.
ARC Lamicraft Private Limited was admitted into CIRP following a petition by MP Resources. An Interim Resolution Professional (IRP) was appointed, and a public announcement was made inviting claims from creditors. The Committee of Creditors (CoC) was constituted, with Union Bank of India holding 100% voting share. Several CoC meetings were held to discuss and approve a resolution plan. Sun Chemicals submitted a resolution plan, which was later revised. MP Resources filed an application seeking rejection of the resolution plan, alleging non-compliance with Section 29A of the IBC and related party transactions. The Resolution Professional (RP) filed a reply, stating that the Corporate Debtor was a registered MSME and that the partner of Sun Chemicals was not a related
…ARC Lamicraft Private…
IRP made a public…