The application IA/917(AHM)2023 was filed by the Resolution Professional of Skylead Chemicals Limited (Corporate Debtor) under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Process of Corporate Persons) Regulations, 2016, seeking approval of a resolution plan. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 30.11.2022, based on a petition filed by Financial Creditor - Stressed Asset Stabilisation Fund under Section 7 of the Code. The Committee of Creditors (CoC) was constituted, and meetings were held to discuss and approve the resolution plan. The resolution plan submitted by Rolence Pharma & Chemicals LLP was
…Skylead Chemicals Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated by Financial Creditor - Stressed Asset Stabilisation Fund. The Resolution Professional (RP) filed IA/917(AHM)2023 seeking approval of the resolution plan submitted by Rolence Pharma & Chemicals LLP. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan proposed a total amount of Rs. 3.15 Crore, with Rs.61.50 Lakhs already deposited in the bank account of the Corporate Debtor through RTGS. The resolution plan also addressed the treatment of preferential, undervalued, fraudulent, and extortionate transactions under Section 66 of the Code. The Tribunal noted that the liquidation value of the Corporate
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Company Petition No. 113 of 2019 filed by…
Corporate Debtor…
The application IA/917(AHM)2023 was filed by the Resolution Professional of Skylead Chemicals Limited (Corporate Debtor) under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, read with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Process of Corporate Persons) Regulations, 2016, seeking approval of a resolution plan. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 30.11.2022, based on a petition filed by Financial Creditor - Stressed Asset Stabilisation Fund under Section 7 of the Code. The Committee of Creditors (CoC) was constituted, and meetings were held to discuss and approve the resolution plan. The resolution plan submitted by Rolence Pharma & Chemicals LLP was
…Skylead Chemicals Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated by Financial Creditor - Stressed Asset Stabilisation Fund. The Resolution Professional (RP) filed IA/917(AHM)2023 seeking approval of the resolution plan submitted by Rolence Pharma & Chemicals LLP. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan proposed a total amount of Rs. 3.15 Crore, with Rs.61.50 Lakhs already deposited in the bank account of the Corporate Debtor through RTGS. The resolution plan also addressed the treatment of preferential, undervalued, fraudulent, and extortionate transactions under Section 66 of the Code. The Tribunal noted that the liquidation value of the Corporate
…Company Petition No. 113 of 2019 filed by…
Corporate Debtor…