The case pertains to an application for the approval of a Resolution Plan along with a Scheme of Amalgamation for M/s Heavy Metal and Tubes Ltd. under Section 30(6) r.w. Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of IBBI (Insolvency Resolution Process for Corporate Persons) 2016. The Corporate Debtor was admitted into CIRP based on an application filed by the Financial Creditor under Section 7 of the IB Code, and a moratorium was declared. Mr. Trupalkumar Patel was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, comprising five financial creditors. The CoC approved the invitation of Expression of Interest (EOI)
…1. An application was filed for approval of a Resolution Plan along with a Scheme of Amalgamation under the Insolvency & Bankruptcy Code, 2016.
2. The Corporate Debtor, M/s Heavy Metal and Tubes Ltd., was admitted into CIRP based on an application by a Financial Creditor.
3. A moratorium was declared, and Mr. Trupalkumar Patel was appointed as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP).
4. A Committee of Creditors (CoC) was constituted, comprising five financial creditors.
5. The CoC approved the invitation of Expression of Interest (EOI) from eligible Resolution Applicants.
6. Several EOIs were received, including one from Heavy Metal and Tubes (India) Private Limited, Mr. Dilip Khandelwal and Mr. Shyamlal Gupta
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Moratorium was declared and CIRP initiated…
Mr. Trupalkumar Patel, the Interim…
The case pertains to an application for the approval of a Resolution Plan along with a Scheme of Amalgamation for M/s Heavy Metal and Tubes Ltd. under Section 30(6) r.w. Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of IBBI (Insolvency Resolution Process for Corporate Persons) 2016. The Corporate Debtor was admitted into CIRP based on an application filed by the Financial Creditor under Section 7 of the IB Code, and a moratorium was declared. Mr. Trupalkumar Patel was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, comprising five financial creditors. The CoC approved the invitation of Expression of Interest (EOI)
…1. An application was filed for approval of a Resolution Plan along with a Scheme of Amalgamation under the Insolvency & Bankruptcy Code, 2016.
2. The Corporate Debtor, M/s Heavy Metal and Tubes Ltd., was admitted into CIRP based on an application by a Financial Creditor.
3. A moratorium was declared, and Mr. Trupalkumar Patel was appointed as the Interim Resolution Professional (IRP), later confirmed as Resolution Professional (RP).
4. A Committee of Creditors (CoC) was constituted, comprising five financial creditors.
5. The CoC approved the invitation of Expression of Interest (EOI) from eligible Resolution Applicants.
6. Several EOIs were received, including one from Heavy Metal and Tubes (India) Private Limited, Mr. Dilip Khandelwal and Mr. Shyamlal Gupta
Moratorium was declared and CIRP initiated…
Mr. Trupalkumar Patel, the Interim…