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 approved by the Committee of Creditors (CoC). 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 initiated the Corporate Insolvency Resolution Process (CIRP) against Balaji Paper and Newsprint Private Limited by filing an application under Section 9 of the I&B Code, 2016. The Adjudicating Authority admitted the application on 06.05.2022. Initially, Mr. Bijay Murmuria was appointed as the Interim Resolution Professional (IRP), but later, Mrs. Rachna Jhunjhunwala was appointed as the new Resolution Professional (RP) on 09.08.2023. The Committee of Creditors (CoC) was constituted, comprising two Secured Financial Creditors: Indian Bank with 58.62% voting share and Indian Overseas Bank with 41.38% voting share. The RP published Form G, inviting Expression of Interest (EoI), and received eleven Eols initially. The last date for submitting the plan
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Adjudicating Authority admitted the…
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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 approved by the Committee of Creditors (CoC). 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 initiated the Corporate Insolvency Resolution Process (CIRP) against Balaji Paper and Newsprint Private Limited by filing an application under Section 9 of the I&B Code, 2016. The Adjudicating Authority admitted the application on 06.05.2022. Initially, Mr. Bijay Murmuria was appointed as the Interim Resolution Professional (IRP), but later, Mrs. Rachna Jhunjhunwala was appointed as the new Resolution Professional (RP) on 09.08.2023. The Committee of Creditors (CoC) was constituted, comprising two Secured Financial Creditors: Indian Bank with 58.62% voting share and Indian Overseas Bank with 41.38% voting share. The RP published Form G, inviting Expression of Interest (EoI), and received eleven Eols initially. The last date for submitting the plan
…Adjudicating Authority admitted the…
First meeting of the…