The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Stera Engineering (India) Private Limited. The CIRP was initiated based on an application under Section 10 of the Insolvency & Bankruptcy Code, 2016. Ms. Satyadevi Alamuri was appointed as the Interim Resolution Professional and later as the Resolution Professional. The resolution plan submitted by Subhlaxmi Investment Advisory Private Limited was approved by the Committee of Creditors (CoC) with a 90.883% voting share. The Adjudicating Authority is considering the approval of the resolution plan.
Stera Engineering (India) Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by the Adjudicating Authority on 2024-03-07, based on an application under Section 10 of the Insolvency & Bankruptcy Code, 2016. Ms. Satyadevi Alamuri was appointed as the Interim Resolution Professional and later as the Resolution Professional. Subhlaxmi Investment Advisory Private Limited submitted a resolution plan, which was approved by the Committee of Creditors (CoC) with 90.883% voting power. The resolution plan proposed a payment of Rs. 27,00,000 to stakeholders, including Rs. 17,68,440 for CIRP costs. The Resolution Applicant has a net worth of Rs. 22.39 Crores and leveraging capabilities of Rs. 40 Crore. The fair value of the Corporate Debtor is
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Corporate Insolvency…
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The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Stera Engineering (India) Private Limited. The CIRP was initiated based on an application under Section 10 of the Insolvency & Bankruptcy Code, 2016. Ms. Satyadevi Alamuri was appointed as the Interim Resolution Professional and later as the Resolution Professional. The resolution plan submitted by Subhlaxmi Investment Advisory Private Limited was approved by the Committee of Creditors (CoC) with a 90.883% voting share. The Adjudicating Authority is considering the approval of the resolution plan.
Stera Engineering (India) Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated by the Adjudicating Authority on 2024-03-07, based on an application under Section 10 of the Insolvency & Bankruptcy Code, 2016. Ms. Satyadevi Alamuri was appointed as the Interim Resolution Professional and later as the Resolution Professional. Subhlaxmi Investment Advisory Private Limited submitted a resolution plan, which was approved by the Committee of Creditors (CoC) with 90.883% voting power. The resolution plan proposed a payment of Rs. 27,00,000 to stakeholders, including Rs. 17,68,440 for CIRP costs. The Resolution Applicant has a net worth of Rs. 22.39 Crores and leveraging capabilities of Rs. 40 Crore. The fair value of the Corporate Debtor is
…Corporate Insolvency…
Public Announcement…