The case involves the corporate insolvency resolution process (CIRP) of Rohit Ferro Tech Limited. The CIRP was initiated following an order by the Adjudicating Authority on February 7, 2020. Mr. Supriyo Kumar Chaudhuri was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (EoI) and published Form G, receiving two resolution plans initially. However, the Committee of Creditors (CoC) found these plans unsatisfactory due to being substantially below the liquidation value, leading to a re-bidding process with a fresh Form-G. Eight EoIs were received, and eventually, five resolution plans were submitted. The CoC unanimously approved the resolution plan submitted by
…Rohit Ferro Tech Limited underwent Corporate Insolvency Resolution Process (CIRP) following an order on February 7, 2020. Supriyo Kumar Chaudhuri was appointed as the Resolution Professional (RP). The RP received two initial resolution plans, which were rejected by the Committee of Creditors (CoC) for being below liquidation value. A re-bidding process led to five resolution plans, with Tata Steel Mining Limited's plan being unanimously approved by the CoC. The Successful Resolution Applicant (SRA) sought directions regarding the 'Effective Date', CIRP cost management, and operational creditor payments. CGST and Central Excise, Jajpur Division, filed a claim for Rs. 60,16,24,695.59, of which Rs. 43,62,37,172 was admitted, and the remaining was disputed due to pending
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Rohit Ferro Tech…
Mr. Supriyo Kumar…
The case involves the corporate insolvency resolution process (CIRP) of Rohit Ferro Tech Limited. The CIRP was initiated following an order by the Adjudicating Authority on February 7, 2020. Mr. Supriyo Kumar Chaudhuri was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The RP issued an invitation for Expression of Interest (EoI) and published Form G, receiving two resolution plans initially. However, the Committee of Creditors (CoC) found these plans unsatisfactory due to being substantially below the liquidation value, leading to a re-bidding process with a fresh Form-G. Eight EoIs were received, and eventually, five resolution plans were submitted. The CoC unanimously approved the resolution plan submitted by
…Rohit Ferro Tech Limited underwent Corporate Insolvency Resolution Process (CIRP) following an order on February 7, 2020. Supriyo Kumar Chaudhuri was appointed as the Resolution Professional (RP). The RP received two initial resolution plans, which were rejected by the Committee of Creditors (CoC) for being below liquidation value. A re-bidding process led to five resolution plans, with Tata Steel Mining Limited's plan being unanimously approved by the CoC. The Successful Resolution Applicant (SRA) sought directions regarding the 'Effective Date', CIRP cost management, and operational creditor payments. CGST and Central Excise, Jajpur Division, filed a claim for Rs. 60,16,24,695.59, of which Rs. 43,62,37,172 was admitted, and the remaining was disputed due to pending
…Rohit Ferro Tech…
Mr. Supriyo Kumar…