The case pertains to an application filed under Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016 (IBC) for the approval of a resolution plan submitted by Asons Pharmaceuticals Private Limited for the corporate debtor, Astral Steritech Private Limited. The Operational Creditor had initiated Corporate Insolvency Resolution Process (CIRP) under Section 9 of the IBC, which was admitted on 2024-06-10, and an Interim Resolution Professional (IRP) was appointed. Public announcement was made on 2024-06-12, with a deadline of 2024-06-27 for submission of claims. The Committee of Creditors (CoC) was formed, and resolution plans were invited. Two resolution plans were received, and inter se auction bidding was conducted. Asons Pharmaceuticals Private Limited
…Piramal Critical Care Inc., an Operational Creditor, initiated CIRP against Astral Steritech Private Limited under Section 9 of the IBC. The CIRP was admitted on 2024-06-10. Manish Santosh Buchasia was appointed as the Resolution Professional (RP). A public announcement was made on 2024-06-12, setting 2024-06-27 as the last date for claim submissions. The Committee of Creditors (CoC) was formed, comprising Operational Creditors. Two resolution plans were received from prospective resolution applicants (PRAs). An inter se auction bidding was conducted on 2025-02-13. Asons Pharmaceuticals Private Limited, along with Mr. Jignesh Shah, submitted the highest bid of Rs. 83,40,75,000, which was approved by 93.46% of the CoC. The successful bidder submitted a declaration under
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Corporate Insolvency…
Public announcement was…
The case pertains to an application filed under Sections 30 and 31 of the Insolvency and Bankruptcy Code, 2016 (IBC) for the approval of a resolution plan submitted by Asons Pharmaceuticals Private Limited for the corporate debtor, Astral Steritech Private Limited. The Operational Creditor had initiated Corporate Insolvency Resolution Process (CIRP) under Section 9 of the IBC, which was admitted on 2024-06-10, and an Interim Resolution Professional (IRP) was appointed. Public announcement was made on 2024-06-12, with a deadline of 2024-06-27 for submission of claims. The Committee of Creditors (CoC) was formed, and resolution plans were invited. Two resolution plans were received, and inter se auction bidding was conducted. Asons Pharmaceuticals Private Limited
…Piramal Critical Care Inc., an Operational Creditor, initiated CIRP against Astral Steritech Private Limited under Section 9 of the IBC. The CIRP was admitted on 2024-06-10. Manish Santosh Buchasia was appointed as the Resolution Professional (RP). A public announcement was made on 2024-06-12, setting 2024-06-27 as the last date for claim submissions. The Committee of Creditors (CoC) was formed, comprising Operational Creditors. Two resolution plans were received from prospective resolution applicants (PRAs). An inter se auction bidding was conducted on 2025-02-13. Asons Pharmaceuticals Private Limited, along with Mr. Jignesh Shah, submitted the highest bid of Rs. 83,40,75,000, which was approved by 93.46% of the CoC. The successful bidder submitted a declaration under
…Corporate Insolvency…
Public announcement was…