The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, for the approval of a resolution plan for the corporate debtor, M/s Midland Polymers Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 06.01.2023, and Mr. G. Madhusudhan Rao was appointed as the Insolvency Resolution Professional (IRP). The IRP made a public announcement, inviting creditors to submit their claims. The Committee of Creditors (CoC) was constituted, comprising financial creditors with voting percentages based on their debt value. The CoC instructed the RP to publish Form G, inviting prospective resolution applicants to submit resolution plans. Two resolution plans were received, and the CoC approved the plan submitted
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Midland Polymers Limited on 06.01.2023. Mr. G. Madhusudhan Rao was appointed as the Insolvency Resolution Professional (IRP). A public announcement was made, inviting creditors to submit their claims. The Committee of Creditors (CoC) was constituted, with Prem Kumar Bajaj holding 97.48% of the voting share and Centron Industrial Alliance Limited holding 2.52%. The CoC instructed the RP to publish Form G, inviting prospective resolution applicants to submit resolution plans. Two resolution plans were received from Mr. Arun Kilash Shah and Mr. Gudapu Reddy Sreedar Reddy. The CoC approved the resolution plan submitted by Mr. Gudapu Reddy Sreedar Reddy with 97.48% votes. Mr. Gudapu Reddy Sreedar
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Corporate debtor…
IRP made a public…
The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, for the approval of a resolution plan for the corporate debtor, M/s Midland Polymers Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 06.01.2023, and Mr. G. Madhusudhan Rao was appointed as the Insolvency Resolution Professional (IRP). The IRP made a public announcement, inviting creditors to submit their claims. The Committee of Creditors (CoC) was constituted, comprising financial creditors with voting percentages based on their debt value. The CoC instructed the RP to publish Form G, inviting prospective resolution applicants to submit resolution plans. Two resolution plans were received, and the CoC approved the plan submitted
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s Midland Polymers Limited on 06.01.2023. Mr. G. Madhusudhan Rao was appointed as the Insolvency Resolution Professional (IRP). A public announcement was made, inviting creditors to submit their claims. The Committee of Creditors (CoC) was constituted, with Prem Kumar Bajaj holding 97.48% of the voting share and Centron Industrial Alliance Limited holding 2.52%. The CoC instructed the RP to publish Form G, inviting prospective resolution applicants to submit resolution plans. Two resolution plans were received from Mr. Arun Kilash Shah and Mr. Gudapu Reddy Sreedar Reddy. The CoC approved the resolution plan submitted by Mr. Gudapu Reddy Sreedar Reddy with 97.48% votes. Mr. Gudapu Reddy Sreedar
…Corporate debtor…
IRP made a public…