The case involves an application moved by Resolution Professional Mr. Amit Gupta under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by Bermaco Energy Systems Limited, which was approved by 78.83% of the Committee of Creditors (CoC) for Mahavir Roads & Infrastructure Private Limited. The CIRP was initiated following the admission of an application under Section 7 of the Code. The process involved several CoC meetings, invitation for resolution plans, and challenges to the CIRP order.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Mahavir Roads & Infrastructure Private Limited after an application was admitted under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Ankur Kumar was initially appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement inviting claims from creditors. The CIRP order was challenged, leading to a stay on the constitution of the Committee of Creditors (CoC). Form G was published multiple times to invite expressions of interest from prospective resolution applicants. Suraksha ARC was initially the sole prospective resolution applicant, and the CoC decided to obtain an Earnest Money Deposit (EMD) from them. However, the resolution plan submitted by
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The Hon'ble NCLT admitted…
The IRP issued Public Announcement (Form A)…
The case involves an application moved by Resolution Professional Mr. Amit Gupta under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by Bermaco Energy Systems Limited, which was approved by 78.83% of the Committee of Creditors (CoC) for Mahavir Roads & Infrastructure Private Limited. The CIRP was initiated following the admission of an application under Section 7 of the Code. The process involved several CoC meetings, invitation for resolution plans, and challenges to the CIRP order.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Mahavir Roads & Infrastructure Private Limited after an application was admitted under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Ankur Kumar was initially appointed as the Interim Resolution Professional (IRP). The IRP issued a public announcement inviting claims from creditors. The CIRP order was challenged, leading to a stay on the constitution of the Committee of Creditors (CoC). Form G was published multiple times to invite expressions of interest from prospective resolution applicants. Suraksha ARC was initially the sole prospective resolution applicant, and the CoC decided to obtain an Earnest Money Deposit (EMD) from them. However, the resolution plan submitted by
…The Hon'ble NCLT admitted…
The IRP issued Public Announcement (Form A)…