The application was filed under Section 33(3) r.w.60(5)(c) of the Insolvency and Bankruptcy Code, 2016, by CMA Srigini Rajat Naidu, 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. A resolution plan was approved on 30.06.2023, declaring M/s. Rudransh Agro & Co. as the Successful Resolution Applicant (SRA). However, the SRA withdrew from the implementation of the Resolution Plan on 27.07.2023, citing changes in market dynamics for
…The Corporate Debtor, M/s. M.S. Mining and Consultancy Private Limited, underwent CIRP initiated 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. A resolution plan was submitted by M/s. Rudransh Agro & Co. and approved by 76.56% vote share on 30.04.2021. The Tribunal approved the resolution plan on 30.06.2023, declaring M/s. Rudransh Agro & Co. as the Successful Resolution Applicant (SRA). The resolution plan proposed a total consideration of Rs.3,45,00,000/- to be implemented within 3 months. On 27.07.2023, the SRA withdrew from the implementation, citing changes in market dynamics for Manganese Oxide. The SRA forfeited Rs.70,00,000 deposited
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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 CMA Srigini Rajat Naidu, 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. A resolution plan was approved on 30.06.2023, declaring M/s. Rudransh Agro & Co. as the Successful Resolution Applicant (SRA). However, the SRA withdrew from the implementation of the Resolution Plan on 27.07.2023, citing changes in market dynamics for
…The Corporate Debtor, M/s. M.S. Mining and Consultancy Private Limited, underwent CIRP initiated 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. A resolution plan was submitted by M/s. Rudransh Agro & Co. and approved by 76.56% vote share on 30.04.2021. The Tribunal approved the resolution plan on 30.06.2023, declaring M/s. Rudransh Agro & Co. as the Successful Resolution Applicant (SRA). The resolution plan proposed a total consideration of Rs.3,45,00,000/- to be implemented within 3 months. On 27.07.2023, the SRA withdrew from the implementation, citing changes in market dynamics for Manganese Oxide. The SRA forfeited Rs.70,00,000 deposited
…CIRP initiated against…
Applicant confirmed as…