The case involves an application under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, regarding the Corporate Insolvency Resolution Process (CIRP) of M/s. Fairdeal Multifilament Private Limited. The Resolution Professional (RP) filed an application seeking approval of the resolution plan submitted by M/s. Parth Poly Coat Yarn Private Limited. The CIRP was initiated following a petition filed by a financial creditor, Mr. Sanjay Choudhary, under Section 7 of the Code. Initially, Mr. Sachin Naveen Sinha was appointed as the Interim Resolution Professional (IRP), but later, due to a deadlock among the Committee of Creditors (CoC), M/s. Fintech Restructuring LLP was appointed as the RP. The CoC conducted multiple meetings to evaluate resolution plans
…M/s. Fairdeal Multifilament Private Limited underwent Corporate Insolvency Resolution Process (CIRP) following a petition by a financial creditor. Mr. Sanjay Choudhary. Initially, Mr. Sachin Naveen Sinha was appointed as the Interim Resolution Professional (IRP). Later, M/s. Fintech Restructuring LLP was appointed as the Resolution Professional (RP) due to a deadlock among the Committee of Creditors (CoC). The RP published Form-G, receiving eleven expressions of interest. Three Prospective Resolution Applicants (PRAs) submitted resolution plans: Mr. Manoj Sanklecha, M/s. Parth Poly Coat Yarn Private Limited, and Kanter Steel (India) Private Limited. M/s. Parth Poly Coat Yarn Private Limited was selected. The CoC conducted multiple meetings, including an E-Bidding
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Company Petition No.…
Tribunal admitted the Corporate Debtor M/s.…
The case involves an application under Section 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, regarding the Corporate Insolvency Resolution Process (CIRP) of M/s. Fairdeal Multifilament Private Limited. The Resolution Professional (RP) filed an application seeking approval of the resolution plan submitted by M/s. Parth Poly Coat Yarn Private Limited. The CIRP was initiated following a petition filed by a financial creditor, Mr. Sanjay Choudhary, under Section 7 of the Code. Initially, Mr. Sachin Naveen Sinha was appointed as the Interim Resolution Professional (IRP), but later, due to a deadlock among the Committee of Creditors (CoC), M/s. Fintech Restructuring LLP was appointed as the RP. The CoC conducted multiple meetings to evaluate resolution plans
…M/s. Fairdeal Multifilament Private Limited underwent Corporate Insolvency Resolution Process (CIRP) following a petition by a financial creditor. Mr. Sanjay Choudhary. Initially, Mr. Sachin Naveen Sinha was appointed as the Interim Resolution Professional (IRP). Later, M/s. Fintech Restructuring LLP was appointed as the Resolution Professional (RP) due to a deadlock among the Committee of Creditors (CoC). The RP published Form-G, receiving eleven expressions of interest. Three Prospective Resolution Applicants (PRAs) submitted resolution plans: Mr. Manoj Sanklecha, M/s. Parth Poly Coat Yarn Private Limited, and Kanter Steel (India) Private Limited. M/s. Parth Poly Coat Yarn Private Limited was selected. The CoC conducted multiple meetings, including an E-Bidding
…Company Petition No.…
Tribunal admitted the Corporate Debtor M/s.…