The case pertains to an application filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, by Abhishek Nagori, the Resolution Professional (RP) of Innovative Tyres and Tubes Limited, seeking approval of the resolution plan submitted by M/s Ten On Ten Rubtech Private Limited. The corporate debtor, Innovative Tyres and Tubes Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 28.03.2022. The RP published Form-G to invite resolution plans and received two plans, one from M/s MRL Tyres Limited and another from M/s Ten On Ten Rubtech Private Limited. The Committee of Creditors (CoC) approved the resolution plan of M/s Ten On Ten Rubtech Private Limited with 99.70% votes.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Innovative Tyres and Tubes Limited on 28.03.2022. Abhishek Nagori was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP published Form-G, inviting prospective resolution applicants to submit resolution plans. Two resolution plans were received, one from M/s MRL Tyres Limited and another from M/s Ten On Ten Rubtech Private Limited. The Committee of Creditors (CoC) was constituted, with State Bank of India holding 99.64% of the voting share. The CoC approved the resolution plan submitted by M/s Ten On Ten Rubtech Private Limited with 99.70% votes. The resolution applicant proposed to infuse Rs.42.11 Crores. The fair value of the corporate
…Sign in to view the parties.
The corporate debtor, Innovative Tyres and…
The Interim Resolution Professional (IRP) made a…
The case pertains to an application filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, by Abhishek Nagori, the Resolution Professional (RP) of Innovative Tyres and Tubes Limited, seeking approval of the resolution plan submitted by M/s Ten On Ten Rubtech Private Limited. The corporate debtor, Innovative Tyres and Tubes Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on 28.03.2022. The RP published Form-G to invite resolution plans and received two plans, one from M/s MRL Tyres Limited and another from M/s Ten On Ten Rubtech Private Limited. The Committee of Creditors (CoC) approved the resolution plan of M/s Ten On Ten Rubtech Private Limited with 99.70% votes.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Innovative Tyres and Tubes Limited on 28.03.2022. Abhishek Nagori was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP published Form-G, inviting prospective resolution applicants to submit resolution plans. Two resolution plans were received, one from M/s MRL Tyres Limited and another from M/s Ten On Ten Rubtech Private Limited. The Committee of Creditors (CoC) was constituted, with State Bank of India holding 99.64% of the voting share. The CoC approved the resolution plan submitted by M/s Ten On Ten Rubtech Private Limited with 99.70% votes. The resolution applicant proposed to infuse Rs.42.11 Crores. The fair value of the corporate
…The corporate debtor, Innovative Tyres and…
The Interim Resolution Professional (IRP) made a…