The case involves multiple applications (IA/922(AHM)2022, IA/646(AHM)2023, and IA/484(AHM)2022) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of DMB Paper Mills Pvt. Ltd. CP(IB) No. 25 of 2019 was initiated following a Section 10 application, admitting the Corporate Debtor into CIRP on 2021-11-24. The Interim Resolution Professional (IRP) made a public announcement on 2021-12-04 and constituted a Committee of Creditors (CoC) comprising Union Bank of India. The CoC appointed the applicant as the Resolution Professional (RP). Form G was published on 2022-07-20, and the Request for Resolution Plan (RFRP) was approved on 2022-08-11. IA 645 of 2022 was filed by the RP seeking exclusion of 45 days, which was ordered on 2022-08-01. IA 736 of 2022
…DMB Paper Mills Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) after a Section 10 application was admitted on 2021-11-24. Vijay Prakash Usharia was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed with Union Bank of India as the sole financial creditor. Several applications were filed during the CIRP, including IA 645/2022 and IA 736/2022, seeking extensions of the CIRP timeline. Three resolution plans were received but deemed unviable by the CoC. Krishkan Investment Private Limited, assignee of debt from Union Bank of India, filed IA 646/2023 seeking substitution of the RP. The CoC, with 100% majority, passed a resolution for liquidation on 2022-10-04. The RP then filed IA/922(AHM)2022 seeking liquidation.
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Initiation of Corporate Insolvency Resolution…
Corporate Debtor (CD) admitted into Corporate…
The case involves multiple applications (IA/922(AHM)2022, IA/646(AHM)2023, and IA/484(AHM)2022) filed in connection with the Corporate Insolvency Resolution Process (CIRP) of DMB Paper Mills Pvt. Ltd. CP(IB) No. 25 of 2019 was initiated following a Section 10 application, admitting the Corporate Debtor into CIRP on 2021-11-24. The Interim Resolution Professional (IRP) made a public announcement on 2021-12-04 and constituted a Committee of Creditors (CoC) comprising Union Bank of India. The CoC appointed the applicant as the Resolution Professional (RP). Form G was published on 2022-07-20, and the Request for Resolution Plan (RFRP) was approved on 2022-08-11. IA 645 of 2022 was filed by the RP seeking exclusion of 45 days, which was ordered on 2022-08-01. IA 736 of 2022
…DMB Paper Mills Pvt. Ltd. underwent Corporate Insolvency Resolution Process (CIRP) after a Section 10 application was admitted on 2021-11-24. Vijay Prakash Usharia was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed with Union Bank of India as the sole financial creditor. Several applications were filed during the CIRP, including IA 645/2022 and IA 736/2022, seeking extensions of the CIRP timeline. Three resolution plans were received but deemed unviable by the CoC. Krishkan Investment Private Limited, assignee of debt from Union Bank of India, filed IA 646/2023 seeking substitution of the RP. The CoC, with 100% majority, passed a resolution for liquidation on 2022-10-04. The RP then filed IA/922(AHM)2022 seeking liquidation.
…Initiation of Corporate Insolvency Resolution…
Corporate Debtor (CD) admitted into Corporate…