The case pertains to an application (I.A. No. 21/2024) filed by the Resolution Professional (RP) under Section 30(6) and Section 31(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of the Resolution Plan for the Corporate Debtor (CD), M/s. Fenoplast Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the CD following the admission of a petition filed by Canara Bank Limited, the Financial Creditor (FC), under Section 7 of the IBC. The RP took steps such as public announcement of the CIRP, constitution of the Committee of Creditors (COC), and invitation of Expression of Interest (EOI) from Prospective
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Fenoplast Limited following the admission of a petition filed by Canara Bank Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). Ms. G. Kalpana was appointed as the Resolution Professional (RP). The RP took steps to constitute the Committee of Creditors (COC), invite Expression of Interest (EOI) from Prospective Resolution Applicants (PRAs), and evaluate the Resolution Plans received. The COC comprised Canara Bank (71% voting share) and State Bank of India (29% voting share). The RP conducted 25 meetings of the COC during the CIRP. Initially, the RP invited EOI-1 and received 3 PRAs, but the plans were non-compliant. Subsequently, EOI-2 was invited, and 16 EOIs were received,
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Company Petition CP(IB)…
Order dated 07.02.2023…
The case pertains to an application (I.A. No. 21/2024) filed by the Resolution Professional (RP) under Section 30(6) and Section 31(1) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of the Resolution Plan for the Corporate Debtor (CD), M/s. Fenoplast Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against the CD following the admission of a petition filed by Canara Bank Limited, the Financial Creditor (FC), under Section 7 of the IBC. The RP took steps such as public announcement of the CIRP, constitution of the Committee of Creditors (COC), and invitation of Expression of Interest (EOI) from Prospective
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Fenoplast Limited following the admission of a petition filed by Canara Bank Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). Ms. G. Kalpana was appointed as the Resolution Professional (RP). The RP took steps to constitute the Committee of Creditors (COC), invite Expression of Interest (EOI) from Prospective Resolution Applicants (PRAs), and evaluate the Resolution Plans received. The COC comprised Canara Bank (71% voting share) and State Bank of India (29% voting share). The RP conducted 25 meetings of the COC during the CIRP. Initially, the RP invited EOI-1 and received 3 PRAs, but the plans were non-compliant. Subsequently, EOI-2 was invited, and 16 EOIs were received,
…Company Petition CP(IB)…
Order dated 07.02.2023…