The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan concerning Krishna Alex Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Punjab National Bank under Section 7 of the Code, which was admitted on 2021-09-14. Rachna Jhunjhunwala was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The IRP made a public announcement and invited claims from creditors. The Committee of Creditors (CoC) conducted several meetings to evaluate resolution plans. Sterile Extrusions Private Limited submitted a resolution plan that received 96.3461% of the CoC's vote, exceeding the
…Punjab National Bank filed a Company Petition (CP (IB) No. 1128/KB/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Krishna Alex Private Limited, the Corporate Debtor. The petition was admitted on 2021-09-14, initiating the Corporate Insolvency Resolution Process (CIRP). Rachna Jhunjhunwala was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. Public announcement was made on 2021-09-16, inviting claims from financial and operational creditors. Eleven CoC meetings were conducted during the CIRP period. Invitations for Expression of Interest (EoIs) were issued on 2021-11-27, with extensions until 2021-12-21. Five resolution plans were received, and after revisions, the CoC considered them
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Punjab National Bank…
The Company Petition…
The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a Resolution Plan concerning Krishna Alex Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by Punjab National Bank under Section 7 of the Code, which was admitted on 2021-09-14. Rachna Jhunjhunwala was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The IRP made a public announcement and invited claims from creditors. The Committee of Creditors (CoC) conducted several meetings to evaluate resolution plans. Sterile Extrusions Private Limited submitted a resolution plan that received 96.3461% of the CoC's vote, exceeding the
…Punjab National Bank filed a Company Petition (CP (IB) No. 1128/KB/2019) under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Krishna Alex Private Limited, the Corporate Debtor. The petition was admitted on 2021-09-14, initiating the Corporate Insolvency Resolution Process (CIRP). Rachna Jhunjhunwala was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. Public announcement was made on 2021-09-16, inviting claims from financial and operational creditors. Eleven CoC meetings were conducted during the CIRP period. Invitations for Expression of Interest (EoIs) were issued on 2021-11-27, with extensions until 2021-12-21. Five resolution plans were received, and after revisions, the CoC considered them
…Punjab National Bank…
The Company Petition…