The case pertains to an application filed by the Resolution Professional (RP), Mr. Ram Singh Setia, under Section 33(2) read with Section 34 of the Insolvency and Bankruptcy Code (IBC), 2016, and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, seeking directions for the liquidation of the Corporate Debtor, Eurotas Infrastructure Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Eurotas Infrastructure Limited on 24.11.2020, following an application under Section 7 of the IBC by Axis Bank, a financial creditor. Mr. Ram Singh Setia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. The RP collated claims from creditors, constituted the Committee of
…Axis Bank Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against Eurotas Infrastructure Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on 24.11.2020. Mr. Ram Singh Setia was appointed as the Resolution Professional (RP). The RP convened 18 meetings of the Committee of Creditors (CoC). The RP issued an Invitation for Expression of Interest (EOI) to solicit resolution plans. Two resolution applicants, Dickey Alternative Investment Trust (DAIT) and Ashtech India Limited, submitted resolution plans, but the CoC found them unsatisfactory. The CoC granted extensions for revised plans, but no revised plans were submitted. The CoC considered an offer from GCMPL for a one-time settlement (OTS) of Rs. 130 crores,
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Corporate Insolvency…
Committee of Creditors…
The case pertains to an application filed by the Resolution Professional (RP), Mr. Ram Singh Setia, under Section 33(2) read with Section 34 of the Insolvency and Bankruptcy Code (IBC), 2016, and the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, seeking directions for the liquidation of the Corporate Debtor, Eurotas Infrastructure Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Eurotas Infrastructure Limited on 24.11.2020, following an application under Section 7 of the IBC by Axis Bank, a financial creditor. Mr. Ram Singh Setia was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional. The RP collated claims from creditors, constituted the Committee of
…Axis Bank Ltd. initiated Corporate Insolvency Resolution Process (CIRP) against Eurotas Infrastructure Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP commenced on 24.11.2020. Mr. Ram Singh Setia was appointed as the Resolution Professional (RP). The RP convened 18 meetings of the Committee of Creditors (CoC). The RP issued an Invitation for Expression of Interest (EOI) to solicit resolution plans. Two resolution applicants, Dickey Alternative Investment Trust (DAIT) and Ashtech India Limited, submitted resolution plans, but the CoC found them unsatisfactory. The CoC granted extensions for revised plans, but no revised plans were submitted. The CoC considered an offer from GCMPL for a one-time settlement (OTS) of Rs. 130 crores,
…Corporate Insolvency…
Committee of Creditors…