The application was filed by Mr. Akhil Ahuja, the Resolution Professional of Sheel Auto Industries Pvt. Ltd., under Section 30(6) read with Regulation 39 of the IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016, seeking approval of the Resolution plan submitted by Mr. Ramdhan Gupta, the Successful Resolution Applicant. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 10 of the Code. Mr. Deepankur Sharma was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Akhil Ahuja. The Committee of Creditors (CoC) approved the resolution plan with a 98.75% vote share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Sheel Auto Industries Pvt. Ltd. following an application under Section 10 of the Insolvency and Bankruptcy Code, 2016. Initially, Mr. Deepankur Sharma was appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. Akhil Ahuja. A public announcement was made on August 27, 2023, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, initially comprising Bank of India with a claim of Rs. 7,93,65,353. The CoC was later reconstituted to include RBL Bank with a claim of Rs. 9,74,606.86. The CoC approved the issuance of an invitation for Expression of Interest (EOI) on November 9, 2023. Four resolution plans were received, and after a Swiss
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The application was filed by Mr. Akhil Ahuja, the Resolution Professional of Sheel Auto Industries Pvt. Ltd., under Section 30(6) read with Regulation 39 of the IBBI (Insolvency Resolution Process of Corporate Persons) Regulations, 2016, seeking approval of the Resolution plan submitted by Mr. Ramdhan Gupta, the Successful Resolution Applicant. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application under Section 10 of the Code. Mr. Deepankur Sharma was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Akhil Ahuja. The Committee of Creditors (CoC) approved the resolution plan with a 98.75% vote share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Sheel Auto Industries Pvt. Ltd. following an application under Section 10 of the Insolvency and Bankruptcy Code, 2016. Initially, Mr. Deepankur Sharma was appointed as the Interim Resolution Professional (IRP), but he was later replaced by Mr. Akhil Ahuja. A public announcement was made on August 27, 2023, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, initially comprising Bank of India with a claim of Rs. 7,93,65,353. The CoC was later reconstituted to include RBL Bank with a claim of Rs. 9,74,606.86. The CoC approved the issuance of an invitation for Expression of Interest (EOI) on November 9, 2023. Four resolution plans were received, and after a Swiss
…Application fil…
Application admitted by…