The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Value Direct Communications Private Limited. The CIRP was initiated on 2023-02-17 following an application by Karix Mobile Private Limited (Operational Creditor). An Interim Resolution Professional (IRP) was appointed, followed by the constitution of a Committee of Creditors (CoC). Mr. Indrajit Mukherjee was later appointed as the Resolution Professional (RP). The RP filed an application (IA/47/2024) seeking approval of the resolution plan submitted by Tatkal Loan India Private Limited, which was approved by 93.84% of the CoC members.
Value Direct Communications Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-02-17 by Karix Mobile Private Limited. Mr. Hitesh Kothari was appointed as Interim Resolution Professional (IRP), followed by Mr. Indrajit Mukherjee as Resolution Professional (RP). The Committee of Creditors (CoC) was formed, and several applications for CIRP extensions were filed. Tatkal Loan India Private Limited submitted a resolution plan approved by the CoC with 93.84% voting share on 2024-02-12. The RP confirmed compliance with Section 30(2) of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 38 of CIRP Regulations. The resolution plan provides for CIRP costs, management of the corporate debtor, and stakeholder interests. The
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Corporate Insolvency Resolution Process (CIRP)…
Interim Reso…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Value Direct Communications Private Limited. The CIRP was initiated on 2023-02-17 following an application by Karix Mobile Private Limited (Operational Creditor). An Interim Resolution Professional (IRP) was appointed, followed by the constitution of a Committee of Creditors (CoC). Mr. Indrajit Mukherjee was later appointed as the Resolution Professional (RP). The RP filed an application (IA/47/2024) seeking approval of the resolution plan submitted by Tatkal Loan India Private Limited, which was approved by 93.84% of the CoC members.
Value Direct Communications Private Limited underwent Corporate Insolvency Resolution Process (CIRP) initiated on 2023-02-17 by Karix Mobile Private Limited. Mr. Hitesh Kothari was appointed as Interim Resolution Professional (IRP), followed by Mr. Indrajit Mukherjee as Resolution Professional (RP). The Committee of Creditors (CoC) was formed, and several applications for CIRP extensions were filed. Tatkal Loan India Private Limited submitted a resolution plan approved by the CoC with 93.84% voting share on 2024-02-12. The RP confirmed compliance with Section 30(2) of the Insolvency and Bankruptcy Code (IBC), 2016, and Regulation 38 of CIRP Regulations. The resolution plan provides for CIRP costs, management of the corporate debtor, and stakeholder interests. The
…Corporate Insolvency Resolution Process (CIRP)…
Interim Reso…