The case involves an application for approval of a resolution plan for IGOPL Offshore Private Limited, a corporate debtor, under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) approved the resolution plan in its 8th meeting with a 100% majority. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-11-15 after the corporate debtor filed a petition under Section 10 of the Code. Bhavesh Rathod was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The IRP invited claims from creditors and constituted a CoC with six financial creditors. The Resolution Professional received resolution plans from two applicants, Jai Kishan Thappa and Jubilant Enpro Private Limited, and the
…IGOPL Offshore Private Limited underwent Corporate Insolvency Resolution Process (CIRP) after admitting a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC). Bhavesh Rathod was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed with six financial creditors. The RP received resolution plans from Jai Kishan Thappa and Jubilant Enpro Private Limited. The CoC approved the resolution plan of Jubilant Enpro Private Limited with 100% voting share in its 8th meeting. The fair value of the company was Rs. 33.16 Crore and the liquidation value was Rs. 22.87 Crore. The resolution plan involved a total consideration of INR 24 Crores, with allocations for secured and unsecured financial creditors, employees, and operational
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Corporate Insolvency Resolution Process (CIRP)…
Interim Resolution Professional (IRP) was…
The case involves an application for approval of a resolution plan for IGOPL Offshore Private Limited, a corporate debtor, under the Insolvency and Bankruptcy Code, 2016. The Committee of Creditors (CoC) approved the resolution plan in its 8th meeting with a 100% majority. The Corporate Insolvency Resolution Process (CIRP) was initiated on 2021-11-15 after the corporate debtor filed a petition under Section 10 of the Code. Bhavesh Rathod was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The IRP invited claims from creditors and constituted a CoC with six financial creditors. The Resolution Professional received resolution plans from two applicants, Jai Kishan Thappa and Jubilant Enpro Private Limited, and the
…IGOPL Offshore Private Limited underwent Corporate Insolvency Resolution Process (CIRP) after admitting a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC). Bhavesh Rathod was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was formed with six financial creditors. The RP received resolution plans from Jai Kishan Thappa and Jubilant Enpro Private Limited. The CoC approved the resolution plan of Jubilant Enpro Private Limited with 100% voting share in its 8th meeting. The fair value of the company was Rs. 33.16 Crore and the liquidation value was Rs. 22.87 Crore. The resolution plan involved a total consideration of INR 24 Crores, with allocations for secured and unsecured financial creditors, employees, and operational
…Corporate Insolvency Resolution Process (CIRP)…
Interim Resolution Professional (IRP) was…