The case involves an application for approval of a resolution plan for KGS Sugar & Infra Corporation Limited under the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on October 10, 2019. The resolution professional, Mr. Pankaj Sham Joshi, filed an application seeking approval of the resolution plan submitted by Gangamai Industries and Constructions Limited (GIACL). The Committee of Creditors (CoC) approved the resolution plan with a 99.86% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against KGS Sugar & Infra Corporation Limited on October 10, 2019. Mr. Balady Shekhar Shetty was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Pankaj Sham Joshi. The IRP made a public announcement on November 4, 2019, and constituted the Committee of Creditors (CoC) on November 18, 2019. The CoC held twenty-two meetings. The CoC approved the appointment of M/s GSA & Associates as the Forensic Auditor and registered valuers for valuation of assets. An invitation for expressions of interest (Eol) was published on January 17, 2020, and four prospective resolution applicants (PRAs) were shortlisted. Ultimately, three resolution plans were received, and the
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Corporate Insolvency Resolution Process (CIRP)…
Mr. Balady Shekhar…
The case involves an application for approval of a resolution plan for KGS Sugar & Infra Corporation Limited under the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor on October 10, 2019. The resolution professional, Mr. Pankaj Sham Joshi, filed an application seeking approval of the resolution plan submitted by Gangamai Industries and Constructions Limited (GIACL). The Committee of Creditors (CoC) approved the resolution plan with a 99.86% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against KGS Sugar & Infra Corporation Limited on October 10, 2019. Mr. Balady Shekhar Shetty was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Pankaj Sham Joshi. The IRP made a public announcement on November 4, 2019, and constituted the Committee of Creditors (CoC) on November 18, 2019. The CoC held twenty-two meetings. The CoC approved the appointment of M/s GSA & Associates as the Forensic Auditor and registered valuers for valuation of assets. An invitation for expressions of interest (Eol) was published on January 17, 2020, and four prospective resolution applicants (PRAs) were shortlisted. Ultimately, three resolution plans were received, and the
…Corporate Insolvency Resolution Process (CIRP)…
Mr. Balady Shekhar…