The case pertains to IA(IBC)/582(CHE)/2021 filed in IBA/307/2019, concerning the insolvency resolution of M/s. Bhatia Coke and Energy Limited. The Resolution Professional (RP) moved the application seeking approval of the Resolution Plan submitted by the successful Resolution Applicant, a consortium of M/s. Earth Elements Development Company Limited and M/s. Mahavir Coal Washeries Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-05-22. Several CoC meetings were held to discuss and improve the resolution plans. The CoC approved the resolution plan with 100% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Bhatia Coke and Energy Limited on 2019-05-22. An initial invitation for Expression of Interest (EOI) yielded no response, leading to a fresh EOI. Five prospective Resolution Applicants emerged, and the Resolution Professional (RP) shared the Information Memorandum and Request for Resolution Plan with them. Only one Resolution Plan was received initially, but two applicants requested additional time due to the COVID-19 pandemic. The CoC granted an extension until 2020-03-27. Two resolution plans were submitted, one by M/s. RARE Asset Reconstruction Limited and another by a consortium of M/s. Earth Elements Development Company Pvt. Ltd. and M/s. Mahavir Coal Washeries Pvt. Ltd. The plan by M/s.
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Corporate Insolvency Resolution Process (CIRP)…
Erstwhile IRP issued…
The case pertains to IA(IBC)/582(CHE)/2021 filed in IBA/307/2019, concerning the insolvency resolution of M/s. Bhatia Coke and Energy Limited. The Resolution Professional (RP) moved the application seeking approval of the Resolution Plan submitted by the successful Resolution Applicant, a consortium of M/s. Earth Elements Development Company Limited and M/s. Mahavir Coal Washeries Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2019-05-22. Several CoC meetings were held to discuss and improve the resolution plans. The CoC approved the resolution plan with 100% voting share.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Bhatia Coke and Energy Limited on 2019-05-22. An initial invitation for Expression of Interest (EOI) yielded no response, leading to a fresh EOI. Five prospective Resolution Applicants emerged, and the Resolution Professional (RP) shared the Information Memorandum and Request for Resolution Plan with them. Only one Resolution Plan was received initially, but two applicants requested additional time due to the COVID-19 pandemic. The CoC granted an extension until 2020-03-27. Two resolution plans were submitted, one by M/s. RARE Asset Reconstruction Limited and another by a consortium of M/s. Earth Elements Development Company Pvt. Ltd. and M/s. Mahavir Coal Washeries Pvt. Ltd. The plan by M/s.
…Corporate Insolvency Resolution Process (CIRP)…
Erstwhile IRP issued…