The case involves an application (I.A.-3577/2023) preferred by the Resolution Professional (RP) seeking approval of the Resolution Plan for JSSI Hydraulics Private Limited, which was approved by the Committee of Creditors (CoC). The underlying main petition C.P.(IB)-66/(ND)/2022 was filed by State Bank of India against JSSI Hydraulics Private Limited under Section 7 of the IBC, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated after the petition was admitted on 12.07.2022.
State Bank of India filed C.P.(IB)-66/(ND)/2022 against JSSI Hydraulics Private Limited under Section 7 of the IBC, 2016, leading to the initiation of CIRP on 12.07.2022. The RP made a public announcement on 15.07.2022 to invite claims. The CoC included State Bank of India (84.51% voting share) and Canara Bank (15.49% voting share). Several CoC meetings were held to discuss and approve various aspects of the CIRP, including the appointment of professionals, approval of the Resolution Plan, and extension of timelines. JM Hydraulic Solutions Pvt. Ltd. submitted a Resolution Plan, which was approved by the CoC. The Resolution Plan included a financial outlay of Rs. 42.3775 Crores, with payments to secured financial creditors, employees, operational creditors, and
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Order passed admitting the petition filed by…
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The case involves an application (I.A.-3577/2023) preferred by the Resolution Professional (RP) seeking approval of the Resolution Plan for JSSI Hydraulics Private Limited, which was approved by the Committee of Creditors (CoC). The underlying main petition C.P.(IB)-66/(ND)/2022 was filed by State Bank of India against JSSI Hydraulics Private Limited under Section 7 of the IBC, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated after the petition was admitted on 12.07.2022.
State Bank of India filed C.P.(IB)-66/(ND)/2022 against JSSI Hydraulics Private Limited under Section 7 of the IBC, 2016, leading to the initiation of CIRP on 12.07.2022. The RP made a public announcement on 15.07.2022 to invite claims. The CoC included State Bank of India (84.51% voting share) and Canara Bank (15.49% voting share). Several CoC meetings were held to discuss and approve various aspects of the CIRP, including the appointment of professionals, approval of the Resolution Plan, and extension of timelines. JM Hydraulic Solutions Pvt. Ltd. submitted a Resolution Plan, which was approved by the CoC. The Resolution Plan included a financial outlay of Rs. 42.3775 Crores, with payments to secured financial creditors, employees, operational creditors, and
…Order passed admitting the petition filed by…
Public announcement made…