The case involves IA 690 of 2020 in CP(IB) No. 38 of 2019, filed by Ravi Kapoor, the Resolution Professional (RP) of NRS Projects Private Limited, seeking approval of a resolution plan submitted by Nimit Sangani, a promoter of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 25.07.2019. The resolution plan was approved by the Committee of Creditors (COC) with 73.03% votes in its 9th meeting held on 07.09.2020. The CIRP period was extended, and a legislature amended Section 5(8) of IBC, giving home buyers the status of Financial Creditors. The RP received claims from Reliance Home Finance Limited, and in the fourth COC meeting, Sushil Tewary was appointed as the representative of the home buyers. Nimit
…Mr. Ravi Kapoor, the Resolution Professional (RP) of NRS Projects Private Limited, filed IA 690 of 2020 seeking approval of a resolution plan submitted by Mr. Nimit Sangani, a promoter of the Corporate Debtor. The Corporate Debtor, NRS Projects Private Limited, was admitted into CIRP on 25.07.2019. The resolution plan was approved by the COC with 73.03% votes on 07.09.2020. The COC consisted of Fedbank Financial Services Limited and Corporation Bank (now Union Bank). The RP received claims from Reliance Home Finance Limited. In the fourth COC meeting on 23.12.2019, Mr. Sushil Tewary was appointed as the representative of the home buyers, as the Corporate Debtor is a Real Estate Development Company. The CIRP period was extended. The voting percentage of home buyers
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Corporate Debtor…
The IRP called…
The case involves IA 690 of 2020 in CP(IB) No. 38 of 2019, filed by Ravi Kapoor, the Resolution Professional (RP) of NRS Projects Private Limited, seeking approval of a resolution plan submitted by Nimit Sangani, a promoter of the Corporate Debtor. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) on 25.07.2019. The resolution plan was approved by the Committee of Creditors (COC) with 73.03% votes in its 9th meeting held on 07.09.2020. The CIRP period was extended, and a legislature amended Section 5(8) of IBC, giving home buyers the status of Financial Creditors. The RP received claims from Reliance Home Finance Limited, and in the fourth COC meeting, Sushil Tewary was appointed as the representative of the home buyers. Nimit
…Mr. Ravi Kapoor, the Resolution Professional (RP) of NRS Projects Private Limited, filed IA 690 of 2020 seeking approval of a resolution plan submitted by Mr. Nimit Sangani, a promoter of the Corporate Debtor. The Corporate Debtor, NRS Projects Private Limited, was admitted into CIRP on 25.07.2019. The resolution plan was approved by the COC with 73.03% votes on 07.09.2020. The COC consisted of Fedbank Financial Services Limited and Corporation Bank (now Union Bank). The RP received claims from Reliance Home Finance Limited. In the fourth COC meeting on 23.12.2019, Mr. Sushil Tewary was appointed as the representative of the home buyers, as the Corporate Debtor is a Real Estate Development Company. The CIRP period was extended. The voting percentage of home buyers
…Corporate Debtor…
The IRP called…