The case involves an application under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, for the approval of a resolution plan for Bansal Alumex Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by Oriental Bank of Commerce under Section 7 of the IBC. The resolution plan was submitted by Sterile Extrusions Private Limited and approved by the Committee of Creditors (CoC) with a 100% majority. The Adjudicating Authority is considering the approval of the resolution plan.
Oriental Bank of Commerce filed a company petition (CP(IB) No. 1204/KB/2019) against Bansal Alumex Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 25.02.2020. Bansal Alumex is the Corporate Debtor (CD) and also a corporate guarantor to Krishna Alex Pvt Ltd. Rachna Jhunjhunwala was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement of the CIRP was made on 28.02.2020. The RP issued invitations for Expression of Interest (EoI) on 18.09.2020. Six resolution plans were received, and the CoC found the plans received until 11.03.2021 unsatisfactory. A fresh Form G publication was done on 27.11.2021. The last date for submission of the resolution
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Oriental Bank of Commerce filed CP(IB) No.…
The company p…
The case involves an application under Section 30(6) and Section 31 of the Insolvency and Bankruptcy Code, 2016, for the approval of a resolution plan for Bansal Alumex Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by Oriental Bank of Commerce under Section 7 of the IBC. The resolution plan was submitted by Sterile Extrusions Private Limited and approved by the Committee of Creditors (CoC) with a 100% majority. The Adjudicating Authority is considering the approval of the resolution plan.
Oriental Bank of Commerce filed a company petition (CP(IB) No. 1204/KB/2019) against Bansal Alumex Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016, which was admitted on 25.02.2020. Bansal Alumex is the Corporate Debtor (CD) and also a corporate guarantor to Krishna Alex Pvt Ltd. Rachna Jhunjhunwala was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement of the CIRP was made on 28.02.2020. The RP issued invitations for Expression of Interest (EoI) on 18.09.2020. Six resolution plans were received, and the CoC found the plans received until 11.03.2021 unsatisfactory. A fresh Form G publication was done on 27.11.2021. The last date for submission of the resolution
…Oriental Bank of Commerce filed CP(IB) No.…
The company p…