The case pertains to an application filed under Section 30(6), 31, and 60(5) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional (RP) seeking approval of the Resolution Plan submitted by Equator Financial Services Limited, the Successful Resolution Applicant (SRA). The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 12.12.2019 under section 9 of the IBC. Mr. Rajan Deshraj Agarwal was appointed as the Interim Resolution Professional (IRP) and later continued as the RP. The Committee of Creditors (CoC) comprised of Indian Overseas Bank as the sole member. The RP issued public announcements inviting claims from creditors and Expressions of Interest (EOI) from prospective resolution applicants. The Resolution
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Infra Industries Limited by the NCLT Mumbai Bench on 12.12.2019. Mr. Rajan Deshraj Agarwal was appointed as the Interim Resolution Professional (IRP) and later continued as the RP. The Committee of Creditors (CoC) comprised of Indian Overseas Bank as the sole member. Public announcements were made to invite claims from creditors. Equator Financial Services Limited submitted a Resolution Plan, which was approved by 100% of the CoC members. The valuers determined the liquidation value as Rs. 3,46,53,333 and fair value as Rs. 4,35,59,268. The Resolution Plan proposed payments to secured financial creditors, unsecured financial creditors, and operational creditors. The Resolution Plan was submitted 12
…Sign in to view the parties.
The Corporate Insolvency Resolution Process…
The RP issued Form-A dated 20.12.2019…
The case pertains to an application filed under Section 30(6), 31, and 60(5) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional (RP) seeking approval of the Resolution Plan submitted by Equator Financial Services Limited, the Successful Resolution Applicant (SRA). The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 12.12.2019 under section 9 of the IBC. Mr. Rajan Deshraj Agarwal was appointed as the Interim Resolution Professional (IRP) and later continued as the RP. The Committee of Creditors (CoC) comprised of Indian Overseas Bank as the sole member. The RP issued public announcements inviting claims from creditors and Expressions of Interest (EOI) from prospective resolution applicants. The Resolution
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Infra Industries Limited by the NCLT Mumbai Bench on 12.12.2019. Mr. Rajan Deshraj Agarwal was appointed as the Interim Resolution Professional (IRP) and later continued as the RP. The Committee of Creditors (CoC) comprised of Indian Overseas Bank as the sole member. Public announcements were made to invite claims from creditors. Equator Financial Services Limited submitted a Resolution Plan, which was approved by 100% of the CoC members. The valuers determined the liquidation value as Rs. 3,46,53,333 and fair value as Rs. 4,35,59,268. The Resolution Plan proposed payments to secured financial creditors, unsecured financial creditors, and operational creditors. The Resolution Plan was submitted 12
…The Corporate Insolvency Resolution Process…
The RP issued Form-A dated 20.12.2019…