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, the Successful Resolution Applicant (SRA). The Committee of Creditors (CoC) of Balaji Paper and Newsprint Private Limited approved the Resolution Plan with a 100% voting share. The Letter of Intent (LoI) was issued to the SRA, who furnished the Performance Security. 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
…Jai Kishore Gupta, an Operational Creditor, initiated CIRP against Balaji Paper and Newsprint Private Limited, the Corporate Debtor, under Section 9 of the I&B Code. The application was admitted on 2022-05-06, and Mr. Bijay Murmuria was appointed as the Interim Resolution Professional (IRP). Subsequently, Mrs. Rachna Jhunjhunwala was appointed as the new Resolution Professional (RP) on 2023-08-09. The Committee of Creditors (CoC) was constituted with two Secured Financial Creditors: Indian Bank (58.62% voting share) and Indian Overseas Bank (41.38% voting share). The CoC approved the Resolution Plan submitted by Pinax Paper Mills Private Limited and Pinax Steel Industries Private Limited with 100% voting share. The Letter of Intent (LoI) was issued on 2023-10-07,
…Sign in to view the parties.
Application under…
Mrs. Rachna Jhunjhunwala…
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, the Successful Resolution Applicant (SRA). The Committee of Creditors (CoC) of Balaji Paper and Newsprint Private Limited approved the Resolution Plan with a 100% voting share. The Letter of Intent (LoI) was issued to the SRA, who furnished the Performance Security. 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
…Jai Kishore Gupta, an Operational Creditor, initiated CIRP against Balaji Paper and Newsprint Private Limited, the Corporate Debtor, under Section 9 of the I&B Code. The application was admitted on 2022-05-06, and Mr. Bijay Murmuria was appointed as the Interim Resolution Professional (IRP). Subsequently, Mrs. Rachna Jhunjhunwala was appointed as the new Resolution Professional (RP) on 2023-08-09. The Committee of Creditors (CoC) was constituted with two Secured Financial Creditors: Indian Bank (58.62% voting share) and Indian Overseas Bank (41.38% voting share). The CoC approved the Resolution Plan submitted by Pinax Paper Mills Private Limited and Pinax Steel Industries Private Limited with 100% voting share. The Letter of Intent (LoI) was issued on 2023-10-07,
…Application under…
Mrs. Rachna Jhunjhunwala…