The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Topworth Steel and Power Private Ltd. The CIRP was initiated on 29.01.2020. The Resolution Professional, Mr. Sanjay Gupta, filed an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the resolution plan submitted by Amalgam Steel and Power Limited, the Successful Resolution Applicant (SRA). The Committee of Creditors (CoC) approved the resolution plan with a majority of 89.61%.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Topworth Steel and Power Private Ltd. on 29.01.2020. Mr. Dushyant Dave was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sanjay Gupta as the Resolution Professional (RP) on 14th July 2020. The Committee of Creditors (CoC) was constituted on 20.03.2020, and held 29 meetings. The average liquidation value of the Corporate Debtor was determined as Rs.238,15,90,254/-, and the average fair value was determined as Rs.345,81,31,318/-. The RP published 'Form G' inviting resolution plans, and received 8 resolution plans initially, then 12 after revisions. The CoC approved the resolution plan submitted by Amalgam Steel and Power Limited with a majority of 89.61% on
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CIRP was ini…
Mr. Dushyant Dave was…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Topworth Steel and Power Private Ltd. The CIRP was initiated on 29.01.2020. The Resolution Professional, Mr. Sanjay Gupta, filed an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, seeking approval of the resolution plan submitted by Amalgam Steel and Power Limited, the Successful Resolution Applicant (SRA). The Committee of Creditors (CoC) approved the resolution plan with a majority of 89.61%.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Topworth Steel and Power Private Ltd. on 29.01.2020. Mr. Dushyant Dave was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Sanjay Gupta as the Resolution Professional (RP) on 14th July 2020. The Committee of Creditors (CoC) was constituted on 20.03.2020, and held 29 meetings. The average liquidation value of the Corporate Debtor was determined as Rs.238,15,90,254/-, and the average fair value was determined as Rs.345,81,31,318/-. The RP published 'Form G' inviting resolution plans, and received 8 resolution plans initially, then 12 after revisions. The CoC approved the resolution plan submitted by Amalgam Steel and Power Limited with a majority of 89.61% on
…CIRP was ini…
Mr. Dushyant Dave was…