The application was filed under Section 33(3) r.w. 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, by the Chairperson of the Steering Committee for M/s. M.S. Mining and Consultancy Private Limited against the Successful Resolution Applicant M/s. Rudransh Agro & Co., seeking liquidation due to the Resolution Applicant's inability to implement the Resolution Plan. The CIRP was initiated against the Corporate Debtor, M/s. M.S. Mining and Consultancy Private Limited, on 17.03.2020. The Resolution Plan submitted by the Respondent was approved by 76.56% vote share in the CoC meeting and was approved by the Tribunal on 30.06.2023. However, the Respondent withdrew from the implementation of the Resolution Plan on 27.07.2023, citing changes in market dynamics.
The Corporate Debtor, M/s. M.S. Mining and Consultancy Private Limited, underwent CIRP initiated by C.P. NO. (IB) 2279/MB/C-III/2019, which was admitted on 17.03.2020. Ms. Manisha Sanjay Agrawal was appointed as Interim Resolution Professional. The Applicant was confirmed as Resolution Professional on 11.11.2020. Due to the COVID-19 situation, the CIRP period was extended via IA 2478/2020, with the completion deadline shifted to 26.07.2021. The Respondent, M/s. Rudransh Agro & Co., submitted a Resolution Plan approved by 76.56% of the CoC on 30.04.2021. The Tribunal approved the Resolution Plan on 30.06.2023, declaring the Respondent as the Successful Resolution Applicant (SRA). The Resolution Plan proposed a total consideration of Rs.3,45,00,000/- to be
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CIRP initiated against…
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The application was filed under Section 33(3) r.w. 60(5)(c) of the Insolvency and Bankruptcy Code, 2016, by the Chairperson of the Steering Committee for M/s. M.S. Mining and Consultancy Private Limited against the Successful Resolution Applicant M/s. Rudransh Agro & Co., seeking liquidation due to the Resolution Applicant's inability to implement the Resolution Plan. The CIRP was initiated against the Corporate Debtor, M/s. M.S. Mining and Consultancy Private Limited, on 17.03.2020. The Resolution Plan submitted by the Respondent was approved by 76.56% vote share in the CoC meeting and was approved by the Tribunal on 30.06.2023. However, the Respondent withdrew from the implementation of the Resolution Plan on 27.07.2023, citing changes in market dynamics.
The Corporate Debtor, M/s. M.S. Mining and Consultancy Private Limited, underwent CIRP initiated by C.P. NO. (IB) 2279/MB/C-III/2019, which was admitted on 17.03.2020. Ms. Manisha Sanjay Agrawal was appointed as Interim Resolution Professional. The Applicant was confirmed as Resolution Professional on 11.11.2020. Due to the COVID-19 situation, the CIRP period was extended via IA 2478/2020, with the completion deadline shifted to 26.07.2021. The Respondent, M/s. Rudransh Agro & Co., submitted a Resolution Plan approved by 76.56% of the CoC on 30.04.2021. The Tribunal approved the Resolution Plan on 30.06.2023, declaring the Respondent as the Successful Resolution Applicant (SRA). The Resolution Plan proposed a total consideration of Rs.3,45,00,000/- to be
…CIRP initiated against…
Applicant conf…