The case pertains to an Interlocutory Application (IA-47/2024) filed in Company Petition (CP(IB)-469/MB/2021) under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Nashik Forge Private Limited, and CS Vaishali Patrikar was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP issued a public announcement inviting claims from creditors and received claims from various financial and operational creditors. The Committee of Creditors (CoC) was constituted, and meetings were held to discuss resolution plans. Despite receiving expressions of interest and extending the deadline for submission, only one resolution plan was received. The
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Nashik Forge Private Limited. Vaishali Patrikar was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was constituted, and several meetings were held. Three expressions of interest were received for resolution plans. The deadline for submitting resolution plans was extended. Only one resolution plan was received, which the RP found to meet the requirements of S.30(2) of the Code. However, the State Bank of India (SBI), a financial creditor, did not decide on the plan. The CoC rejected the resolution plan with 100% voting. Subsequently, the RP proposed
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C.P.(IB)-469(MB)/2021…
Tribunal order admitting the petition and…
The case pertains to an Interlocutory Application (IA-47/2024) filed in Company Petition (CP(IB)-469/MB/2021) under Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against Nashik Forge Private Limited, and CS Vaishali Patrikar was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP issued a public announcement inviting claims from creditors and received claims from various financial and operational creditors. The Committee of Creditors (CoC) was constituted, and meetings were held to discuss resolution plans. Despite receiving expressions of interest and extending the deadline for submission, only one resolution plan was received. The
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Nashik Forge Private Limited. Vaishali Patrikar was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was constituted, and several meetings were held. Three expressions of interest were received for resolution plans. The deadline for submitting resolution plans was extended. Only one resolution plan was received, which the RP found to meet the requirements of S.30(2) of the Code. However, the State Bank of India (SBI), a financial creditor, did not decide on the plan. The CoC rejected the resolution plan with 100% voting. Subsequently, the RP proposed
…C.P.(IB)-469(MB)/2021…
Tribunal order admitting the petition and…