The application was filed under Section 30(6) read with Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, by Mr. Rajiv Bajaj, the Resolution Professional (RP) of M/s Inox Tubes Private Limited (the Corporate Debtor). The RP sought approval of the Resolution Plan submitted by Mr. Vikrant Sharma, the Successful Resolution Applicant, which was approved by the Committee of Creditors (CoC) in its 6th CoC Meeting held on 2024-04-22.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Inox Tubes Private Limited on 2023-11-10. Mr. Rajiv Bajaj was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2023-11-11 to invite claims from creditors. The first Committee of Creditors (CoC) meeting was held on 2023-12-11, where the appointment of IRP as Resolution Professional was discussed. The CoC approved the remuneration of registered valuers for Land and Building, Plant & Machineries, and Security & Financial Assets. The Resolution Professional invited Expression of Interest (EOI) on 2024-01-09, with a submission deadline of 2024-01-24. Three parties showed interest: Sunrise Industries, Vikrant Sharma, and Suresh Kumar Gupta. Sunrise
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Corporate Insolvency…
Public Announcement…
The application was filed under Section 30(6) read with Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, by Mr. Rajiv Bajaj, the Resolution Professional (RP) of M/s Inox Tubes Private Limited (the Corporate Debtor). The RP sought approval of the Resolution Plan submitted by Mr. Vikrant Sharma, the Successful Resolution Applicant, which was approved by the Committee of Creditors (CoC) in its 6th CoC Meeting held on 2024-04-22.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Inox Tubes Private Limited on 2023-11-10. Mr. Rajiv Bajaj was appointed as the Interim Resolution Professional (IRP). A public announcement was made on 2023-11-11 to invite claims from creditors. The first Committee of Creditors (CoC) meeting was held on 2023-12-11, where the appointment of IRP as Resolution Professional was discussed. The CoC approved the remuneration of registered valuers for Land and Building, Plant & Machineries, and Security & Financial Assets. The Resolution Professional invited Expression of Interest (EOI) on 2024-01-09, with a submission deadline of 2024-01-24. Three parties showed interest: Sunrise Industries, Vikrant Sharma, and Suresh Kumar Gupta. Sunrise
…Corporate Insolvency…
Public Announcement…