The case involves a batch of interlocutory applications filed by various Operational Creditors of Electrosteel Steel Limited, seeking consolidated reliefs such as leave to intervene, direction to pay the full and final amount as approved under the Resolution Plan, and condonation of delay in filing the applications. The Corporate Insolvency Resolution Process (CIRP) was initiated by State Bank of India (SBI) under section 7(1) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the Corporate Debtor into CIRP on July 21, 2017, and appointed Mr. Dhaivat Anjaria as the Interim Resolution Professional (IRP), later the Resolution Professional (RP). The Resolution Professional made a public announcement to receive and verify claims. The Committee
…1. State Bank of India (SBI) initiated Corporate Insolvency Resolution Process (CIRP) against Electrosteel Steel Limited by filing CP(IB) No.361/KB/2017 under Section 7(1) of the Insolvency and Bankruptcy Code, 2016.
2. The Adjudicating Authority admitted Electrosteel Steel Limited into CIRP on July 21, 2017, and appointed Mr. Dhaivat Anjaria as the Interim Resolution Professional (IRP), later the Resolution Professional (RP).
3. The Resolution Professional made a public announcement to receive and verify claims from various stakeholders.
4. The total claim submitted by the Operational Creditors was ₹1,688.40 crore, out of which the Resolution Professional admitted claims of ₹783.41 crore, rejecting claims to the extent of ₹904.99 crore.
5. The Committee of Creditors (CoC)
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The Adjudicating Authority admitted…
Mr. Dhaivat Anjaria was…
The case involves a batch of interlocutory applications filed by various Operational Creditors of Electrosteel Steel Limited, seeking consolidated reliefs such as leave to intervene, direction to pay the full and final amount as approved under the Resolution Plan, and condonation of delay in filing the applications. The Corporate Insolvency Resolution Process (CIRP) was initiated by State Bank of India (SBI) under section 7(1) of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority admitted the Corporate Debtor into CIRP on July 21, 2017, and appointed Mr. Dhaivat Anjaria as the Interim Resolution Professional (IRP), later the Resolution Professional (RP). The Resolution Professional made a public announcement to receive and verify claims. The Committee
…1. State Bank of India (SBI) initiated Corporate Insolvency Resolution Process (CIRP) against Electrosteel Steel Limited by filing CP(IB) No.361/KB/2017 under Section 7(1) of the Insolvency and Bankruptcy Code, 2016.
2. The Adjudicating Authority admitted Electrosteel Steel Limited into CIRP on July 21, 2017, and appointed Mr. Dhaivat Anjaria as the Interim Resolution Professional (IRP), later the Resolution Professional (RP).
3. The Resolution Professional made a public announcement to receive and verify claims from various stakeholders.
4. The total claim submitted by the Operational Creditors was ₹1,688.40 crore, out of which the Resolution Professional admitted claims of ₹783.41 crore, rejecting claims to the extent of ₹904.99 crore.
5. The Committee of Creditors (CoC)
The Adjudicating Authority admitted…
Mr. Dhaivat Anjaria was…