The case pertains to an application (IA No.31/2021) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of Rathi Graphic Technologies Limited. The CIRP was initiated based on a petition filed by Exim Scrips Dealers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application seeks approval of the resolution plan submitted by Surbhika Steels Private Limited through its unit Nikunj Udhyog, which was approved by the Committee of Creditors (CoC) with a 100% voting share. The resolution plan was initially dismissed but revived after an appeal to the NCLAT.
Exim Scrips Dealers Private Limited filed a Company Petition (CP (IB) No.325/ALD/2019) under Section 7 of the IBC to initiate CIRP against Rathi Graphic Technologies Limited. The petition was admitted on 2020-02-03, marking the Insolvency Commencement Date. Sunil Kumar Aggarwal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Anshul Gupta. The CoC was constituted on 2020-02-26, comprising two financial creditors: State Bank of India (90.68% voting share) and Exim Scrips Dealers Private Limited (9.32% voting share). The total claims admitted amounted to Rs. 2,61,60,36,977. The RP received Eols from nine prospective resolution applicants. Surbhika Steels Private Limited through its unit Nikunj Udhyog submitted a resolution plan that
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Company Petition CP (IB) No.325/ALD/2019 filed…
The Adjudicating Authority admitted the…
The case pertains to an application (IA No.31/2021) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of Rathi Graphic Technologies Limited. The CIRP was initiated based on a petition filed by Exim Scrips Dealers Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The application seeks approval of the resolution plan submitted by Surbhika Steels Private Limited through its unit Nikunj Udhyog, which was approved by the Committee of Creditors (CoC) with a 100% voting share. The resolution plan was initially dismissed but revived after an appeal to the NCLAT.
Exim Scrips Dealers Private Limited filed a Company Petition (CP (IB) No.325/ALD/2019) under Section 7 of the IBC to initiate CIRP against Rathi Graphic Technologies Limited. The petition was admitted on 2020-02-03, marking the Insolvency Commencement Date. Sunil Kumar Aggarwal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Anshul Gupta. The CoC was constituted on 2020-02-26, comprising two financial creditors: State Bank of India (90.68% voting share) and Exim Scrips Dealers Private Limited (9.32% voting share). The total claims admitted amounted to Rs. 2,61,60,36,977. The RP received Eols from nine prospective resolution applicants. Surbhika Steels Private Limited through its unit Nikunj Udhyog submitted a resolution plan that
…Company Petition CP (IB) No.325/ALD/2019 filed…
The Adjudicating Authority admitted the…