The case pertains to an application filed by the Resolution Professional (RP) of Shree Rudra Shakti Industries Pvt. Ltd. (Corporate Debtor) under Section 30(6) and 31(1) of the Insolvency and Bankruptcy Code (IBC) for approval of the Resolution Plan submitted by the Successful Resolution Applicant (SRA), Mr. Samala Raja Shekar. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition filed by V.N. Commercial Corporation, an Operational Creditor, under Section 9 of the IBC. The Committee of Creditors (COC) approved the Resolution Plan with a 100% voting share.
V.N. Commercial Corporation initiated CIRP against Shree Rudra Shakti Industries Pvt. Ltd. The application was admitted under Section 9 of IBC. Narala Vara Lakshmi was appointed as Interim Resolution Professional (IRP) and later confirmed as RP. The COC was reconstituted, and Chakravarthi Srinivasan replaced Narala Varalakshmi as RP. Subsequently, Ram Narayana Boga replaced Chakravarthi Srinivasan. Dantu Indu Sekhar was then appointed as RP. The COC approved a resolution plan submitted by Samala Raja Shekar with 100% voting share. The resolution plan proposed a total value of Rs. 10,54,32,331/-, including payments to financial and operational creditors, and infusion of funds into the corporate debtor. The NCLT considered the compliance of the resolution plan with
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Company Petition CP(IB)…
The Company Petition CP(IB) No. 430/9/HDB/2018…
The case pertains to an application filed by the Resolution Professional (RP) of Shree Rudra Shakti Industries Pvt. Ltd. (Corporate Debtor) under Section 30(6) and 31(1) of the Insolvency and Bankruptcy Code (IBC) for approval of the Resolution Plan submitted by the Successful Resolution Applicant (SRA), Mr. Samala Raja Shekar. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition filed by V.N. Commercial Corporation, an Operational Creditor, under Section 9 of the IBC. The Committee of Creditors (COC) approved the Resolution Plan with a 100% voting share.
V.N. Commercial Corporation initiated CIRP against Shree Rudra Shakti Industries Pvt. Ltd. The application was admitted under Section 9 of IBC. Narala Vara Lakshmi was appointed as Interim Resolution Professional (IRP) and later confirmed as RP. The COC was reconstituted, and Chakravarthi Srinivasan replaced Narala Varalakshmi as RP. Subsequently, Ram Narayana Boga replaced Chakravarthi Srinivasan. Dantu Indu Sekhar was then appointed as RP. The COC approved a resolution plan submitted by Samala Raja Shekar with 100% voting share. The resolution plan proposed a total value of Rs. 10,54,32,331/-, including payments to financial and operational creditors, and infusion of funds into the corporate debtor. The NCLT considered the compliance of the resolution plan with
…Company Petition CP(IB)…
The Company Petition CP(IB) No. 430/9/HDB/2018…