The case involves an application under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the approval of a Resolution Plan for Swastik Oil Refinery Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Meher Oil Industries Private Limited, the Operational Creditor, against Swastik Oil Refinery Private Limited, the Corporate Debtor. Initially, Mr. Vishal Shekhar was appointed as the Interim Resolution Professional, later replaced by the current applicant, Mr. Tapan Chakraborty. The Committee of Creditors (CoC), with Union Bank of India
…Meher Oil Industries Private Limited, an Operational Creditor, filed a Company Petition (C.P. (IB) No. 119/KB/2021) against Swastik Oil Refinery Private Limited, the Corporate Debtor, to initiate Corporate Insolvency Resolution Process (CIRP). The petition was admitted on March 15, 2022. Mr. Vishal Shekhar was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Tapan Chakraborty. The Committee of Creditors (CoC) was constituted with Union Bank of India as the sole member. The IRP made public announcements on March 18, 2022, inviting claims from creditors. The last date for submission of claims was March 29, 2022. Five resolution plans were received from Ambo Agritec Pvt. Ltd., Uma Exports Ltd., Krishna Wax Pvt. Ltd., Pratishtha
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Company Petition (C.P. (IB) No. 119/KB/2021)…
The petition was…
The case involves an application under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the approval of a Resolution Plan for Swastik Oil Refinery Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Meher Oil Industries Private Limited, the Operational Creditor, against Swastik Oil Refinery Private Limited, the Corporate Debtor. Initially, Mr. Vishal Shekhar was appointed as the Interim Resolution Professional, later replaced by the current applicant, Mr. Tapan Chakraborty. The Committee of Creditors (CoC), with Union Bank of India
…Meher Oil Industries Private Limited, an Operational Creditor, filed a Company Petition (C.P. (IB) No. 119/KB/2021) against Swastik Oil Refinery Private Limited, the Corporate Debtor, to initiate Corporate Insolvency Resolution Process (CIRP). The petition was admitted on March 15, 2022. Mr. Vishal Shekhar was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Tapan Chakraborty. The Committee of Creditors (CoC) was constituted with Union Bank of India as the sole member. The IRP made public announcements on March 18, 2022, inviting claims from creditors. The last date for submission of claims was March 29, 2022. Five resolution plans were received from Ambo Agritec Pvt. Ltd., Uma Exports Ltd., Krishna Wax Pvt. Ltd., Pratishtha
…Company Petition (C.P. (IB) No. 119/KB/2021)…
The petition was…