The case pertains to an application filed by the Resolution Professional, Mr. Naidi Jaipal Reddy, for the approval of the resolution plan of M/s Indus Business Systems Limited, the Corporate Debtor, under Sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 23.03.2023, and Mr. Reddy was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement inviting claims from creditors and received two claims from operational creditors. The Committee of Creditors (CoC) was constituted with Dr. M. Sudhee Ranjan as the sole operational creditor. The Resolution Professional published Form G inviting Expression of Interest (EOI) and received one resolution plan from
…The Corporate Debtor, M/s Indus Business Systems Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-03-23. Mr. Naidi Jaipal Reddy was appointed as the Interim Resolution Professional (IRP). Public announcement was made, inviting claims from creditors. Two claims were received from operational creditors, namely SRIUS Business Solutions Private Limited and M. Sudhee Ranjan, amounting to Rs. 1,83,04,000/- and Rs. 19,80,000/- respectively. Claims from EPFO and GST were rejected as they were filed beyond the due date. The Committee of Creditors (CoC) was constituted with Dr. M. Sudhee Ranjan as the sole operational creditor. The Resolution Professional published Form G inviting Expression of Interest (EOI) and received one resolution plan
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The Tribunal admitted the Petition and…
The Interim Resolution Professional (IRP)…
The case pertains to an application filed by the Resolution Professional, Mr. Naidi Jaipal Reddy, for the approval of the resolution plan of M/s Indus Business Systems Limited, the Corporate Debtor, under Sections 30(6) and 31(1) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated on 23.03.2023, and Mr. Reddy was appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement inviting claims from creditors and received two claims from operational creditors. The Committee of Creditors (CoC) was constituted with Dr. M. Sudhee Ranjan as the sole operational creditor. The Resolution Professional published Form G inviting Expression of Interest (EOI) and received one resolution plan from
…The Corporate Debtor, M/s Indus Business Systems Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-03-23. Mr. Naidi Jaipal Reddy was appointed as the Interim Resolution Professional (IRP). Public announcement was made, inviting claims from creditors. Two claims were received from operational creditors, namely SRIUS Business Solutions Private Limited and M. Sudhee Ranjan, amounting to Rs. 1,83,04,000/- and Rs. 19,80,000/- respectively. Claims from EPFO and GST were rejected as they were filed beyond the due date. The Committee of Creditors (CoC) was constituted with Dr. M. Sudhee Ranjan as the sole operational creditor. The Resolution Professional published Form G inviting Expression of Interest (EOI) and received one resolution plan
…The Tribunal admitted the Petition and…
The Interim Resolution Professional (IRP)…