The case involves an application (IA/5679/2023) filed by the Resolution Professional (RP) of Teknik Plant and Machinery MFG. Co. Pvt. Ltd. under Section 30(6) and Section 31 of the Insolvency & Bankruptcy Code, 2016, seeking approval of a resolution plan submitted by Mrs. Archana Pankaj Mahale. The Corporate Insolvency Resolution Process (CIRP) was initiated against Teknik Plant and Machinery MFG. Co. Pvt. Ltd. following an application under section 9 of the Code. The Committee of Creditors (CoC), consisting solely of Indian Bank, approved the resolution plan with 100% voting share in its 6th meeting held on 23.10.2023.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Teknik Plant and Machinery MFG. Co. Pvt. Ltd. based on an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant, Mr. Modilal Dhanraj Pamecha, is the Resolution Professional (RP). The Committee of Creditors (CoC) consists solely of Indian Bank, holding 100% voting share. The RP issued a public announcement inviting claims from creditors. The RP received three claims, including one from Indian Bank as a secured financial creditor and two from operational creditors (ESIC Corporation and Employees Provident Fund Organization). The CoC approved a resolution for liquidation of the Corporate Debtor with 100% voting. The RP filed an application for liquidation. The
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Corporate Insolvency Resolution Process (CIRP)…
The Applicant issued the Public Announcement…
The case involves an application (IA/5679/2023) filed by the Resolution Professional (RP) of Teknik Plant and Machinery MFG. Co. Pvt. Ltd. under Section 30(6) and Section 31 of the Insolvency & Bankruptcy Code, 2016, seeking approval of a resolution plan submitted by Mrs. Archana Pankaj Mahale. The Corporate Insolvency Resolution Process (CIRP) was initiated against Teknik Plant and Machinery MFG. Co. Pvt. Ltd. following an application under section 9 of the Code. The Committee of Creditors (CoC), consisting solely of Indian Bank, approved the resolution plan with 100% voting share in its 6th meeting held on 23.10.2023.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Teknik Plant and Machinery MFG. Co. Pvt. Ltd. based on an application under Section 9 of the Insolvency and Bankruptcy Code (IBC). The applicant, Mr. Modilal Dhanraj Pamecha, is the Resolution Professional (RP). The Committee of Creditors (CoC) consists solely of Indian Bank, holding 100% voting share. The RP issued a public announcement inviting claims from creditors. The RP received three claims, including one from Indian Bank as a secured financial creditor and two from operational creditors (ESIC Corporation and Employees Provident Fund Organization). The CoC approved a resolution for liquidation of the Corporate Debtor with 100% voting. The RP filed an application for liquidation. The
…Corporate Insolvency Resolution Process (CIRP)…
The Applicant issued the Public Announcement…