The case involves the Corporate Insolvency Resolution Process (CIRP) of Shri Adhikari Brothers Television Network Limited. Central Bank of India, a financial creditor, initiated the CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor was admitted into CIRP on 20.12.2019. The resolution professional (RP) was appointed and invited claims from creditors. After initial rejection of resolution plans and an order for liquidation, the NCLAT directed the RP to consider a revised resolution plan submitted by a consortium including SAB Events & Governance Now Media Ltd and Marvel Media Pvt. Ltd, along with Ravi Adhikari and Kailashnath Adhikari. The CoC approved this plan with a 93.50% majority.
Shri Adhikari Brothers Television Network Limited ('Corporate Debtor') was admitted into CIRP on 2019-12-12 based on an application by Central Bank of India ('Financial Creditor') under Section 7 of the IBC. The Resolution Professional (RP) was appointed and claims were invited. Several resolution plans were submitted and rejected. The NCLT initially ordered liquidation on 2021-12-16. However, the NCLAT directed the RP to consider a revised resolution plan submitted by a consortium including SAB Events & Governance Now Media Ltd, Marvel Media Pvt. Ltd, Ravi Adhikari, and Kailashnath Adhikari. This plan was approved by the CoC with 93.50% voting share. Central Bank of India, holding 6.49% voting rights, dissented and filed an application objecting to the plan's
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Corporate Debtor…
Interim Reso…
The case involves the Corporate Insolvency Resolution Process (CIRP) of Shri Adhikari Brothers Television Network Limited. Central Bank of India, a financial creditor, initiated the CIRP under Section 7 of the Insolvency and Bankruptcy Code, 2016. The corporate debtor was admitted into CIRP on 20.12.2019. The resolution professional (RP) was appointed and invited claims from creditors. After initial rejection of resolution plans and an order for liquidation, the NCLAT directed the RP to consider a revised resolution plan submitted by a consortium including SAB Events & Governance Now Media Ltd and Marvel Media Pvt. Ltd, along with Ravi Adhikari and Kailashnath Adhikari. The CoC approved this plan with a 93.50% majority.
Shri Adhikari Brothers Television Network Limited ('Corporate Debtor') was admitted into CIRP on 2019-12-12 based on an application by Central Bank of India ('Financial Creditor') under Section 7 of the IBC. The Resolution Professional (RP) was appointed and claims were invited. Several resolution plans were submitted and rejected. The NCLT initially ordered liquidation on 2021-12-16. However, the NCLAT directed the RP to consider a revised resolution plan submitted by a consortium including SAB Events & Governance Now Media Ltd, Marvel Media Pvt. Ltd, Ravi Adhikari, and Kailashnath Adhikari. This plan was approved by the CoC with 93.50% voting share. Central Bank of India, holding 6.49% voting rights, dissented and filed an application objecting to the plan's
…Corporate Debtor…
Interim Reso…