The case pertains to an application filed under Section 30 read with Section 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. An insolvency application was filed by the Operational Creditor under Section 9 of the IBC, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The CIRP was admitted on 2024-06-10, and the applicant was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 2024-06-12, inviting claims from creditors, with a deadline of 2024-06-27 for submission.
Piramal Critical Care Inc., as the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Astral Steritech Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to unpaid operational debt. The application was admitted on 2024-06-10. Manish Santosh Buchasia was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2024-06-12, inviting claims from creditors with a deadline of 2024-06-27. The IRP constituted a Committee of Creditors (CoC) comprising operational creditors. The CoC approved a resolution plan submitted by Asons Pharmaceuticals Private Limited with a 93.46% voting share. The resolution plan was for Rs.83,40,75,000.
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The Corporate Insolvency Resolution Process…
Public announcement was…
The case pertains to an application filed under Section 30 read with Section 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. An insolvency application was filed by the Operational Creditor under Section 9 of the IBC, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor. The CIRP was admitted on 2024-06-10, and the applicant was appointed as the Interim Resolution Professional (IRP). Public announcement was made on 2024-06-12, inviting claims from creditors, with a deadline of 2024-06-27 for submission.
Piramal Critical Care Inc., as the Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Astral Steritech Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to unpaid operational debt. The application was admitted on 2024-06-10. Manish Santosh Buchasia was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2024-06-12, inviting claims from creditors with a deadline of 2024-06-27. The IRP constituted a Committee of Creditors (CoC) comprising operational creditors. The CoC approved a resolution plan submitted by Asons Pharmaceuticals Private Limited with a 93.46% voting share. The resolution plan was for Rs.83,40,75,000.
…The Corporate Insolvency Resolution Process…
Public announcement was…