The case pertains to an application filed under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by the Resolution Applicant, Gajra Consortium, for the Corporate Debtor, S and H Gears Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT on 24.01.2020 under Section 7 of the IBC. The Resolution Professional (RP) was initially Mr. Navin Khandelwal, later replaced by Ms. Teena Saraswat Pandey. The Committee of Creditors (COC) approved the Resolution Plan with a 77.21% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against S and H Gears Private Limited on 24.01.2020. Mr. Navin Khandelwal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Ms. Teena Saraswat Pandey. The Committee of Creditors (COC) was formed, consisting of financial creditors like Bank of Baroda, MPFC Dewas, and Rani Agro Private Limited. The COC approved a resolution plan submitted by Gajra Consortium with a 77.21% voting share. The resolution plan includes provisions for payment to various stakeholders, including financial creditors, operational creditors, workmen, and related parties. The plan also addresses the treatment of CIRP costs and the infusion of funds by the resolution applicant. The NCLT considered
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Corporate Insolvency Resolution Process (CIRP)…
The COC in its 1st meeting held on 22.06.2020…
The case pertains to an application filed under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of the Resolution Plan submitted by the Resolution Applicant, Gajra Consortium, for the Corporate Debtor, S and H Gears Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT on 24.01.2020 under Section 7 of the IBC. The Resolution Professional (RP) was initially Mr. Navin Khandelwal, later replaced by Ms. Teena Saraswat Pandey. The Committee of Creditors (COC) approved the Resolution Plan with a 77.21% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against S and H Gears Private Limited on 24.01.2020. Mr. Navin Khandelwal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Ms. Teena Saraswat Pandey. The Committee of Creditors (COC) was formed, consisting of financial creditors like Bank of Baroda, MPFC Dewas, and Rani Agro Private Limited. The COC approved a resolution plan submitted by Gajra Consortium with a 77.21% voting share. The resolution plan includes provisions for payment to various stakeholders, including financial creditors, operational creditors, workmen, and related parties. The plan also addresses the treatment of CIRP costs and the infusion of funds by the resolution applicant. The NCLT considered
…Corporate Insolvency Resolution Process (CIRP)…
The COC in its 1st meeting held on 22.06.2020…