The case pertains to an application (I.A. (IBC) (PLAN)/72 (PB)/2024) filed in the matter of the Corporate Insolvency Resolution Process (CIRP) of M/s Spectrum Aero Pvt. Ltd. The CIRP was initiated following a petition (CP(IB) - 742/PB/2023) filed by the Financial Creditor, M/s Meghdoot Corrougators & Packers Pvt. Ltd., under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application seeks approval of the resolution plan submitted by Salsan Steel Private Limited, the successful resolution applicant (SRA). The corporate debtor's business is divided into aircraft chartering and airport management. The resolution plan proposes a demerger of the aircraft chartering business, with the SRA acquiring its operations. The CoC approved the resolution plan with
…M/s Spectrum Aero Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) following a petition filed by M/s Meghdoot Corrougators & Packers Pvt. Ltd., the Financial Creditor. The company's business is divided into aircraft chartering and airport management. Mr. Punit Handa was appointed as the Resolution Professional (RP). The RP made public announcements and convened 12 CoC meetings. A resolution plan submitted by Salsan Steel Private Limited was approved by the CoC with 100% voting share. The liquidation value and fair value of the Corporate Debtor was assessed at Rs. 432/-. The resolution plan proposes a demerger of the aircraft chartering business, with Salsan Steel Private Limited acquiring its operations. Salsan Steel Private Limited submitted a
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M/s Meghdoot Corrougators & Packers Pvt. Ltd.…
The Adjudicating…
The case pertains to an application (I.A. (IBC) (PLAN)/72 (PB)/2024) filed in the matter of the Corporate Insolvency Resolution Process (CIRP) of M/s Spectrum Aero Pvt. Ltd. The CIRP was initiated following a petition (CP(IB) - 742/PB/2023) filed by the Financial Creditor, M/s Meghdoot Corrougators & Packers Pvt. Ltd., under Section 7 of the Insolvency and Bankruptcy Code (IBC). The application seeks approval of the resolution plan submitted by Salsan Steel Private Limited, the successful resolution applicant (SRA). The corporate debtor's business is divided into aircraft chartering and airport management. The resolution plan proposes a demerger of the aircraft chartering business, with the SRA acquiring its operations. The CoC approved the resolution plan with
…M/s Spectrum Aero Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) following a petition filed by M/s Meghdoot Corrougators & Packers Pvt. Ltd., the Financial Creditor. The company's business is divided into aircraft chartering and airport management. Mr. Punit Handa was appointed as the Resolution Professional (RP). The RP made public announcements and convened 12 CoC meetings. A resolution plan submitted by Salsan Steel Private Limited was approved by the CoC with 100% voting share. The liquidation value and fair value of the Corporate Debtor was assessed at Rs. 432/-. The resolution plan proposes a demerger of the aircraft chartering business, with Salsan Steel Private Limited acquiring its operations. Salsan Steel Private Limited submitted a
…M/s Meghdoot Corrougators & Packers Pvt. Ltd.…
The Adjudicating…