The Resolution Professional of Balaji Paper and Newsprint Private Limited, the Corporate Debtor, filed an application seeking approval and final sanction of the Resolution Plan. The Resolution Plan was submitted by Pinax Paper Mills Private Limited and Pinax Steel Industries Private Limited (SRA) and approved by the Committee of Creditors (CoC) with 100% voting share. The CIRP was initiated following an application by Jai Kishore Gupta under Section 9 of the I&B Code, and Mr. Bijay Murmuria was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mrs. Rachna Jhunjhunwala.
Jai Kishore Gupta filed an application under Section 9 of the I&B Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) for Balaji Paper and Newsprint Private Limited. The application was admitted on 2022-05-06, and Mr. Bijay Murmuria was appointed as the Interim Resolution Professional (IRP). Subsequently, Mrs. Rachna Jhunjhunwala replaced him as the Resolution Professional (RP) on 2023-08-09. The Committee of Creditors (CoC) was formed, consisting of Indian Bank (58.62% voting share) and Indian Overseas Bank (41.38% voting share). Several meetings of the CoC were held, and the Resolution Plan submitted by Pinax Paper Mills Private Limited and Pinax Steel Industries Private Limited (SRA) was approved with 100% voting share on
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Application by Jai Kishore Gupta under Section…
Mr. Bijay Murmuria…
The Resolution Professional of Balaji Paper and Newsprint Private Limited, the Corporate Debtor, filed an application seeking approval and final sanction of the Resolution Plan. The Resolution Plan was submitted by Pinax Paper Mills Private Limited and Pinax Steel Industries Private Limited (SRA) and approved by the Committee of Creditors (CoC) with 100% voting share. The CIRP was initiated following an application by Jai Kishore Gupta under Section 9 of the I&B Code, and Mr. Bijay Murmuria was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mrs. Rachna Jhunjhunwala.
Jai Kishore Gupta filed an application under Section 9 of the I&B Code, 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) for Balaji Paper and Newsprint Private Limited. The application was admitted on 2022-05-06, and Mr. Bijay Murmuria was appointed as the Interim Resolution Professional (IRP). Subsequently, Mrs. Rachna Jhunjhunwala replaced him as the Resolution Professional (RP) on 2023-08-09. The Committee of Creditors (CoC) was formed, consisting of Indian Bank (58.62% voting share) and Indian Overseas Bank (41.38% voting share). Several meetings of the CoC were held, and the Resolution Plan submitted by Pinax Paper Mills Private Limited and Pinax Steel Industries Private Limited (SRA) was approved with 100% voting share on
…Application by Jai Kishore Gupta under Section…
Mr. Bijay Murmuria…