The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Zep Infratech Limited. The CIRP was initiated based on an application filed by Raj Radhe Finance Ltd., a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the Corporate Debtor into CIRP on 31.07.2023 and appointed Mr. Nimai Gautam Shah as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). The RP received claims from various stakeholders and constituted a Committee of Creditors (CoC). The CoC conducted several meetings to evaluate resolution plans, and ultimately approved a resolution plan submitted by M/s. Deepvir Enterprise jointly with M/s. Kanha Ventures. The RP filed
…Raj Radhe Finance Ltd. initiated CIRP against Zep Infratech Limited under Section 7 of IBC, 2016. The Adjudicating Authority admitted Zep Infratech into CIRP on 31.07.2023, appointing Nimai Gautam Shah as IRP, later confirmed as RP. The RP received claims and formed a CoC, including Rajendra M. Thakkar (Ravasia) and Sons Private Limited (90.5% voting rights) and Raj Radhe Finance Limited (9.5% voting rights). The CoC approved a resolution plan by M/s. Deepvir Enterprise jointly with M/s. Kanha Ventures. The RP filed an application for approval, challenged by the Income Tax Department. The Adjudicating Authority raised concerns about valuation differences, feasibility, and compliance. Zep Infratech had assets including land, buildings, and financial investments, but
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Raj Radhe Finance Ltd. filed Company Petition…
The Adjudicating Authority admitted the…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Zep Infratech Limited. The CIRP was initiated based on an application filed by Raj Radhe Finance Ltd., a financial creditor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the Corporate Debtor into CIRP on 31.07.2023 and appointed Mr. Nimai Gautam Shah as the Interim Resolution Professional (IRP), who was later confirmed as the Resolution Professional (RP). The RP received claims from various stakeholders and constituted a Committee of Creditors (CoC). The CoC conducted several meetings to evaluate resolution plans, and ultimately approved a resolution plan submitted by M/s. Deepvir Enterprise jointly with M/s. Kanha Ventures. The RP filed
…Raj Radhe Finance Ltd. initiated CIRP against Zep Infratech Limited under Section 7 of IBC, 2016. The Adjudicating Authority admitted Zep Infratech into CIRP on 31.07.2023, appointing Nimai Gautam Shah as IRP, later confirmed as RP. The RP received claims and formed a CoC, including Rajendra M. Thakkar (Ravasia) and Sons Private Limited (90.5% voting rights) and Raj Radhe Finance Limited (9.5% voting rights). The CoC approved a resolution plan by M/s. Deepvir Enterprise jointly with M/s. Kanha Ventures. The RP filed an application for approval, challenged by the Income Tax Department. The Adjudicating Authority raised concerns about valuation differences, feasibility, and compliance. Zep Infratech had assets including land, buildings, and financial investments, but
…Raj Radhe Finance Ltd. filed Company Petition…
The Adjudicating Authority admitted the…