The case pertains to IA(IBC)/2142(CHE)/2023 filed in CP(IB)/290(CHE)/2021, an application filed by the Resolution Professional of Madurai Krishna Network Private Limited, seeking approval of a resolution plan under Section 31(1) of the Insolvency & Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Madurai Krishna Network Private Limited based on an application by Jiangsu Yinhe Electronics Company Limited, an Operational Creditor. The resolution plan was approved by the Committee of Creditors (CoC) with 100% voting share. The application seeks the approval of the resolution plan submitted by Mr. Sikkandar & Mr. Mohana Prasad, the suspended directors of the Corporate Debtor, and also seeks approval for the Resolution
…Madurai Krishna Network Private Limited faced Corporate Insolvency Resolution Process (CIRP) initiated by Jiangsu Yinhe Electronics Company Limited. Mr. A Arumugam was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed with Canara Bank as the sole financial creditor. The RP received multiple Expressions of Interest (EoI) and finalized a list of eligible resolution applicants. The CoC approved a resolution plan submitted by Mr. Sikkandar and Mr. Mohana Prasad with 100% voting share. The resolution plan involves infusion of funds by the resolution applicants and payment to various stakeholders, including financial creditors, operational creditors, and employees. The plan also includes waivers and concessions sought by the
…Sign in to view the parties.
CIRP initiated, IRP…
Public announ…
The case pertains to IA(IBC)/2142(CHE)/2023 filed in CP(IB)/290(CHE)/2021, an application filed by the Resolution Professional of Madurai Krishna Network Private Limited, seeking approval of a resolution plan under Section 31(1) of the Insolvency & Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Madurai Krishna Network Private Limited based on an application by Jiangsu Yinhe Electronics Company Limited, an Operational Creditor. The resolution plan was approved by the Committee of Creditors (CoC) with 100% voting share. The application seeks the approval of the resolution plan submitted by Mr. Sikkandar & Mr. Mohana Prasad, the suspended directors of the Corporate Debtor, and also seeks approval for the Resolution
…Madurai Krishna Network Private Limited faced Corporate Insolvency Resolution Process (CIRP) initiated by Jiangsu Yinhe Electronics Company Limited. Mr. A Arumugam was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed with Canara Bank as the sole financial creditor. The RP received multiple Expressions of Interest (EoI) and finalized a list of eligible resolution applicants. The CoC approved a resolution plan submitted by Mr. Sikkandar and Mr. Mohana Prasad with 100% voting share. The resolution plan involves infusion of funds by the resolution applicants and payment to various stakeholders, including financial creditors, operational creditors, and employees. The plan also includes waivers and concessions sought by the
…CIRP initiated, IRP…
Public announ…