The case pertains to an application (IA(IBC) Plan No. 02/JPR/2024) filed by the Resolution Professional, Vikram Bajaj, for M/s Mahamayay Metals LLP ('Corporate Debtor') under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a Resolution Plan. The main application, CP No. (IB)- 192/7/JPR/2020, was filed by the Financial Creditor, Laxmi Narain Yadav, under Section 7 of the Code for initiation of Corporate Insolvency Resolution Process ('CIRP') against the Corporate Debtor. The CIRP was initiated, and an Interim Resolution Professional (IRP) was appointed. The IRP constituted a Committee of Creditors (CoC) and convened meetings to discuss the resolution process. The CoC rejected the initial proposal concerning the appointment
…Laxmi Narain Yadav, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Mahamayay Metals LLP ('Corporate Debtor') under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted, and an Interim Resolution Professional (IRP) was appointed. The IRP constituted a Committee of Creditors (CoC). The CoC rejected the initial proposal to appoint the IRP as the Resolution Professional (RP). The IRP performed the functions of RP. The IRP issued invitations for Expression of Interest (EOI) and received five EOIs. After due diligence, a provisional list including two prospective Resolution Applicants was issued. Two resolution plans were received from Raman Kumar and Ramphal Singh, and Kusumesh Steel Pvt. Ltd. and
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The Corporate Debtor,…
Main application filed by the Financial…
The case pertains to an application (IA(IBC) Plan No. 02/JPR/2024) filed by the Resolution Professional, Vikram Bajaj, for M/s Mahamayay Metals LLP ('Corporate Debtor') under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a Resolution Plan. The main application, CP No. (IB)- 192/7/JPR/2020, was filed by the Financial Creditor, Laxmi Narain Yadav, under Section 7 of the Code for initiation of Corporate Insolvency Resolution Process ('CIRP') against the Corporate Debtor. The CIRP was initiated, and an Interim Resolution Professional (IRP) was appointed. The IRP constituted a Committee of Creditors (CoC) and convened meetings to discuss the resolution process. The CoC rejected the initial proposal concerning the appointment
…Laxmi Narain Yadav, a Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s Mahamayay Metals LLP ('Corporate Debtor') under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted, and an Interim Resolution Professional (IRP) was appointed. The IRP constituted a Committee of Creditors (CoC). The CoC rejected the initial proposal to appoint the IRP as the Resolution Professional (RP). The IRP performed the functions of RP. The IRP issued invitations for Expression of Interest (EOI) and received five EOIs. After due diligence, a provisional list including two prospective Resolution Applicants was issued. Two resolution plans were received from Raman Kumar and Ramphal Singh, and Kusumesh Steel Pvt. Ltd. and
…The Corporate Debtor,…
Main application filed by the Financial…