This 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 the Resolution Applicant, Mr. Deven Kanubhai Choksi with Mrs. Pragati Deven Choksi, concerning M/s. BVM Finance Private Limited. The corporate debtor, M/s. BVM Finance Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 08.02.2024 under Section 7 of IBC, 2016, following an application by M/s. Zep Infratech Limited. The applicant invited claims, constituted a Committee of Creditors (CoC), and appointed a registered valuer, publishing Form-G on 04.04.2024. Three resolution plans were received, and after revisions and an open online bidding
…M/s. BVM Finance Private Limited was admitted into CIRP on 08.02.2024 following an application by M/s. Zep Infratech Limited under Section 7 of the IBC. The Resolution Professional (RP) invited claims, constituted a Committee of Creditors (CoC), and appointed a registered valuer. Three resolution plans were received, and after revisions, an open online bidding process was conducted. The resolution plan submitted by Mr. Devan Kanubhai Chokshi and Mrs. Pragati Deven Choksi was approved by a 100% majority of the CoC. The highest bid was Rs.7.99 crore. The successful resolution applicant also provided various cheques for a total amount of Rs. 2 Crore towards performance security. The CIRP cost was reported as NIL. The fair value of the assets was Rs. 42,76,352/- and the
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M/s. BVM Finance Private Limited was admitted…
The applicant p…
This 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 the Resolution Applicant, Mr. Deven Kanubhai Choksi with Mrs. Pragati Deven Choksi, concerning M/s. BVM Finance Private Limited. The corporate debtor, M/s. BVM Finance Private Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) vide order dated 08.02.2024 under Section 7 of IBC, 2016, following an application by M/s. Zep Infratech Limited. The applicant invited claims, constituted a Committee of Creditors (CoC), and appointed a registered valuer, publishing Form-G on 04.04.2024. Three resolution plans were received, and after revisions and an open online bidding
…M/s. BVM Finance Private Limited was admitted into CIRP on 08.02.2024 following an application by M/s. Zep Infratech Limited under Section 7 of the IBC. The Resolution Professional (RP) invited claims, constituted a Committee of Creditors (CoC), and appointed a registered valuer. Three resolution plans were received, and after revisions, an open online bidding process was conducted. The resolution plan submitted by Mr. Devan Kanubhai Chokshi and Mrs. Pragati Deven Choksi was approved by a 100% majority of the CoC. The highest bid was Rs.7.99 crore. The successful resolution applicant also provided various cheques for a total amount of Rs. 2 Crore towards performance security. The CIRP cost was reported as NIL. The fair value of the assets was Rs. 42,76,352/- and the
…M/s. BVM Finance Private Limited was admitted…
The applicant p…