The case involves an application filed by the Resolution Professional, Mr. Kumar Raghavan, under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for Gactel Turnkey Projects Limited. The resolution plan, dated 2024-12-20 and revised on 2025-01-09, was submitted by Burberry Infra Private Limited and approved by 100% of the Committee of Creditors (CoC). The Corporate Debtor, Gactel Turnkey Projects Limited, was admitted into CIRP following an application under Section 9 of the IBC, 2016, by Premium Transmission Private Limited. The CIRP process involved several CoC meetings, invitation of expression of interest, rejection of initial resolution plans, and extension of deadlines for submission of resolution plans.
Premium Transmission Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Gactel Turnkey Projects Limited under Section 9 of IBC, 2016, leading to the admission of CIRP on 2024-03-27 and appointment of Mr. Kumar Raghavan as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP). The RP published Form A to invite claims and constituted a Committee of Creditors (CoC) on 2024-04-18. The CoC approved the publication of the Invitation of Expression of Interest (EoI) in Form G, which was published on 2024-06-14. The CoC rejected the initial resolution plan received and extended the CIRP period. Burberry Infra Private Limited submitted a resolution plan that was approved by 100% of the CoC with a resolution plan
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Filing of C…
CIRP initiated against Gactel Turnkey Projects…
The case involves an application filed by the Resolution Professional, Mr. Kumar Raghavan, under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a resolution plan for Gactel Turnkey Projects Limited. The resolution plan, dated 2024-12-20 and revised on 2025-01-09, was submitted by Burberry Infra Private Limited and approved by 100% of the Committee of Creditors (CoC). The Corporate Debtor, Gactel Turnkey Projects Limited, was admitted into CIRP following an application under Section 9 of the IBC, 2016, by Premium Transmission Private Limited. The CIRP process involved several CoC meetings, invitation of expression of interest, rejection of initial resolution plans, and extension of deadlines for submission of resolution plans.
Premium Transmission Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Gactel Turnkey Projects Limited under Section 9 of IBC, 2016, leading to the admission of CIRP on 2024-03-27 and appointment of Mr. Kumar Raghavan as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP). The RP published Form A to invite claims and constituted a Committee of Creditors (CoC) on 2024-04-18. The CoC approved the publication of the Invitation of Expression of Interest (EoI) in Form G, which was published on 2024-06-14. The CoC rejected the initial resolution plan received and extended the CIRP period. Burberry Infra Private Limited submitted a resolution plan that was approved by 100% of the CoC with a resolution plan
…Filing of C…
CIRP initiated against Gactel Turnkey Projects…