The case pertains to an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC) for the approval of a resolution plan for Marsons Limited. The corporate insolvency resolution process (CIRP) was initiated following a petition filed by Ritesh More, an operational creditor, under Section 9 of the IBC. The resolution professional (RP) was appointed, and a committee of creditors (CoC) was formed. The resolution plan submitted by the successful resolution applicant (SRA) was initially approved by the Adjudicating Authority (NCLT) but was later set aside by the National Company Law Appellate Tribunal (NCLAT) due to concerns raised by an operational creditor. The matter was remanded to the CoC for reconsideration, particularly regarding the treatment
…1. An application was filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a resolution plan for Marsons Limited.
2. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by Ritesh More, an operational creditor, under Section 9 of the IBC.
3. Sanjit Kumar Nayak was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional (RP).
4. A Committee of Creditors (CoC) was formed, comprising four Financial Creditors: Allahabad Bank, Nandeshwar Fintrade Private Limited, Kirti Probuild Private Limited, and P. Jainex Trade Finance Private Limited.
5. The RP issued invitations for Expressions of Interest (EOIs), and twelve Resolution Applicants (RAs) submitted their
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The Company Petition in CP (IB)No.628/ KB/…
The RP made public announcement on 22 June,…
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The case pertains to an application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC) for the approval of a resolution plan for Marsons Limited. The corporate insolvency resolution process (CIRP) was initiated following a petition filed by Ritesh More, an operational creditor, under Section 9 of the IBC. The resolution professional (RP) was appointed, and a committee of creditors (CoC) was formed. The resolution plan submitted by the successful resolution applicant (SRA) was initially approved by the Adjudicating Authority (NCLT) but was later set aside by the National Company Law Appellate Tribunal (NCLAT) due to concerns raised by an operational creditor. The matter was remanded to the CoC for reconsideration, particularly regarding the treatment
…1. An application was filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a resolution plan for Marsons Limited.
2. The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition filed by Ritesh More, an operational creditor, under Section 9 of the IBC.
3. Sanjit Kumar Nayak was appointed as the Interim Resolution Professional and later confirmed as the Resolution Professional (RP).
4. A Committee of Creditors (CoC) was formed, comprising four Financial Creditors: Allahabad Bank, Nandeshwar Fintrade Private Limited, Kirti Probuild Private Limited, and P. Jainex Trade Finance Private Limited.
5. The RP issued invitations for Expressions of Interest (EOIs), and twelve Resolution Applicants (RAs) submitted their
The Company Petition in CP (IB)No.628/ KB/…
The RP made public announcement on 22 June,…
Sign in to view related legal provisions.