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 claims from stakeholders. The
…1. State Bank of India (SBI) initiated Corporate Insolvency Resolution Process (CIRP) against Electrosteel Steel Limited 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 claims from stakeholders.
4. The total claim submitted by the Operational Creditors was ₹1,688.40 crore, out of which the Resolution Professional admitted ₹783.41 crore, rejecting the rest.
5. Vedanta Limited submitted a resolution plan, which was approved by the Committee of Creditors with 100% votes.
6. The
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The Adjudicating Authority admitted the…
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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 claims from stakeholders. The
…1. State Bank of India (SBI) initiated Corporate Insolvency Resolution Process (CIRP) against Electrosteel Steel Limited 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 claims from stakeholders.
4. The total claim submitted by the Operational Creditors was ₹1,688.40 crore, out of which the Resolution Professional admitted ₹783.41 crore, rejecting the rest.
5. Vedanta Limited submitted a resolution plan, which was approved by the Committee of Creditors with 100% votes.
6. The
The Adjudicating Authority admitted the…
The Adjudicating…