The case involves an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan concerning 'SAIL – SCL Kerala Limited,' the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by 'Canara Bank' under Section 7 of the Code. Anish Agarwal was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) approved the Resolution Plan with a 100% voting share in its 9th meeting held on 30.12.2023.
The Corporate Insolvency Resolution Process (CIRP) was initiated against SAIL - SCL Kerala Limited after Canara Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Anish Agarwal was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP made a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and Expression of Interests (EOIs) were invited from Prospective Resolution Applicants (PRAs). Chhattisgarh Outsourcing Services Pvt. Ltd (SRA) submitted a Resolution Plan, which was approved by the CoC with a 100% voting share. The RP issued a Letter of Intent (LOI) to the SRA, who submitted a performance bank guarantee. The Resolution
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Corporate Insolvency…
Public Announcement made under Form-A inviting…
The case involves an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan concerning 'SAIL – SCL Kerala Limited,' the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by 'Canara Bank' under Section 7 of the Code. Anish Agarwal was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The Committee of Creditors (CoC) approved the Resolution Plan with a 100% voting share in its 9th meeting held on 30.12.2023.
The Corporate Insolvency Resolution Process (CIRP) was initiated against SAIL - SCL Kerala Limited after Canara Bank filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Anish Agarwal was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP made a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, and Expression of Interests (EOIs) were invited from Prospective Resolution Applicants (PRAs). Chhattisgarh Outsourcing Services Pvt. Ltd (SRA) submitted a Resolution Plan, which was approved by the CoC with a 100% voting share. The RP issued a Letter of Intent (LOI) to the SRA, who submitted a performance bank guarantee. The Resolution
…Corporate Insolvency…
Public Announcement made under Form-A inviting…