The case pertains to an application filed under Section 30(6) and 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, regarding the corporate insolvency resolution process (CIRP) of M/s. Kiran Global Chems Limited. The application, IA(IBC)(PLAN)/4/(CHE)/2024, was moved on 20.04.2024 by the Resolution Professional, Mr. Anil Kumar Khicha, seeking approval of the resolution plan submitted by the Successful Resolution Applicants (SRAs), Mr. Manmohan Singh Jain and Mr. Atul Jain. The CIRP was initiated based on an application by State Bank of India under Section 7 of the IBC, and Mr. Anil Kumar Khicha was later appointed as
…Kiran Global Chems Limited, an unlisted public company involved in manufacturing sodium silicate and potassium silicate, underwent Corporate Insolvency Resolution Process (CIRP) initiated by State Bank of India on 27.04.2021. Mr. Tharuvai Ramachandran Ravichandran was initially appointed as the Interim Resolution Professional, later replaced by Mr. Anil Kumar Khicha on 30.08.2023. The Committee of Creditors (CoC) approved a resolution plan submitted by promoters Mr. Manmohan Singh Jain and Mr. Atul Jain with 99.08% voting share. The resolution plan involves a total resolution value of Rs.68.56 Crores, sourced from the Resolution Applicants themselves, company's cash flows, and disposal of assets. The liquidation value of the Corporate Debtor is Rs.176.82 Crores
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CIRP initiated, IRP…
Public announ…
The case pertains to an application filed under Section 30(6) and 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency & Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, regarding the corporate insolvency resolution process (CIRP) of M/s. Kiran Global Chems Limited. The application, IA(IBC)(PLAN)/4/(CHE)/2024, was moved on 20.04.2024 by the Resolution Professional, Mr. Anil Kumar Khicha, seeking approval of the resolution plan submitted by the Successful Resolution Applicants (SRAs), Mr. Manmohan Singh Jain and Mr. Atul Jain. The CIRP was initiated based on an application by State Bank of India under Section 7 of the IBC, and Mr. Anil Kumar Khicha was later appointed as
…Kiran Global Chems Limited, an unlisted public company involved in manufacturing sodium silicate and potassium silicate, underwent Corporate Insolvency Resolution Process (CIRP) initiated by State Bank of India on 27.04.2021. Mr. Tharuvai Ramachandran Ravichandran was initially appointed as the Interim Resolution Professional, later replaced by Mr. Anil Kumar Khicha on 30.08.2023. The Committee of Creditors (CoC) approved a resolution plan submitted by promoters Mr. Manmohan Singh Jain and Mr. Atul Jain with 99.08% voting share. The resolution plan involves a total resolution value of Rs.68.56 Crores, sourced from the Resolution Applicants themselves, company's cash flows, and disposal of assets. The liquidation value of the Corporate Debtor is Rs.176.82 Crores
…CIRP initiated, IRP…
Public announ…