The case pertains to an application filed under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a Resolution Plan for Pami Metals Private Limited. The Corporate Debtor was admitted into CIRP on 2021-11-05. The Resolution Professional was confirmed on 2022-01-12. The applicant sought exclusion of 89 days and extension of 90 days, which was granted on 2022-05-24, revising the CIRP closure date to 2022-10-27. The Resolution Plan of Eastern Copper Manufacturing Company Private Limited was approved by 86.02% votes.
Sreenath Finvest Pvt Ltd. & Ors. is the Financial Creditor. Pami Metals Private Limited is the Corporate Debtor, admitted into CIRP on 2021-11-05. Jitendra Lohia is the Resolution Professional. Eastern Copper Manufacturing Company Private Ltd. submitted a Resolution Plan that was approved by the CoC with 86.02% votes. The Resolution Plan provides for a total plan value of Rs. 10.51 Crores. Mr. Rajesh Damani's Resolution Plan was rejected due to non-compliance with RFRP, specifically the non-submission of EMD. The applicant sought exclusion of 89 days and extension of 90 days, which was granted on 2022-05-24, revising the CIRP closure date to 2022-10-27. Eastern Copper Manufacturing Company Private Ltd. has submitted Performance Security for a sum of Rs. 1.06 Crores
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The case pertains to an application filed under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, seeking approval of a Resolution Plan for Pami Metals Private Limited. The Corporate Debtor was admitted into CIRP on 2021-11-05. The Resolution Professional was confirmed on 2022-01-12. The applicant sought exclusion of 89 days and extension of 90 days, which was granted on 2022-05-24, revising the CIRP closure date to 2022-10-27. The Resolution Plan of Eastern Copper Manufacturing Company Private Limited was approved by 86.02% votes.
Sreenath Finvest Pvt Ltd. & Ors. is the Financial Creditor. Pami Metals Private Limited is the Corporate Debtor, admitted into CIRP on 2021-11-05. Jitendra Lohia is the Resolution Professional. Eastern Copper Manufacturing Company Private Ltd. submitted a Resolution Plan that was approved by the CoC with 86.02% votes. The Resolution Plan provides for a total plan value of Rs. 10.51 Crores. Mr. Rajesh Damani's Resolution Plan was rejected due to non-compliance with RFRP, specifically the non-submission of EMD. The applicant sought exclusion of 89 days and extension of 90 days, which was granted on 2022-05-24, revising the CIRP closure date to 2022-10-27. Eastern Copper Manufacturing Company Private Ltd. has submitted Performance Security for a sum of Rs. 1.06 Crores
…The Corporate Debtor,…
The Resolution…