The case pertains to an application filed by the Resolution Professional (RP) under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of the Resolution Plan submitted by CIAN Agro Industries & Infrastructure Limited, which was approved by 93.08% of the Committee of Creditors (CoC) of the Corporate Debtor, Swapnil Promoters and Developers Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by Omkara Assets Reconstruction Private Limited (Operational Creditor) under Section 7 of the IBC. The RP was appointed and subsequently confirmed after the first CoC meeting. The RP issued invitations for Expression of Interest (EoI) and conducted multiple CoC meetings. An extension of the CIRP
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Swapnil Promoters and Developers Private Limited based on an application by Omkara Assets Reconstruction Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Amit Vijay Karia was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted, and multiple meetings were held. The RP apprised the CoC about the assignment of debt exposure of Omkara Assets Reconstruction to 'Best Power Plus Private Limited'. The CoC voted in favor of the Resolution Plan submitted by CIAN Agro Industries & Infrastructure
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The Resolution…
Corporate Insolvency…
The case pertains to an application filed by the Resolution Professional (RP) under Section 30(6) of the Insolvency and Bankruptcy Code (IBC), 2016, seeking approval of the Resolution Plan submitted by CIAN Agro Industries & Infrastructure Limited, which was approved by 93.08% of the Committee of Creditors (CoC) of the Corporate Debtor, Swapnil Promoters and Developers Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by Omkara Assets Reconstruction Private Limited (Operational Creditor) under Section 7 of the IBC. The RP was appointed and subsequently confirmed after the first CoC meeting. The RP issued invitations for Expression of Interest (EoI) and conducted multiple CoC meetings. An extension of the CIRP
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Swapnil Promoters and Developers Private Limited based on an application by Omkara Assets Reconstruction Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Mr. Amit Vijay Karia was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcements were made to invite claims from creditors. The Committee of Creditors (CoC) was constituted, and multiple meetings were held. The RP apprised the CoC about the assignment of debt exposure of Omkara Assets Reconstruction to 'Best Power Plus Private Limited'. The CoC voted in favor of the Resolution Plan submitted by CIAN Agro Industries & Infrastructure
…The Resolution…
Corporate Insolvency…