The case involves the approval of a resolution plan for M/S Sankhya Infotech Limited, a corporate debtor undergoing the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated after the admission of a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. An Interim Resolution Professional (IRP) was appointed, who later continued as the Resolution Professional (RP). The RP invited claims from creditors, constituted a Committee of Creditors (CoC), and invited prospective resolution applicants to submit resolution plans.
Mr. Pudhota Mahendra Kumar Choudhary initiated proceedings against M/S Sankhya Infotech Limited under Section 7 of the IBC, which was admitted on 2021-07-28, leading to the commencement of CIRP. Mr. Jagadees Kumar Morri was appointed as the Interim Resolution Professional (IRP) and continued as the Resolution Professional (RP). The RP made a public announcement on 2021-08-04, inviting claims from creditors. The RP admitted claims from financial creditors, including IDBI Bank Ltd (Rs. 33,39,85,824/- with 92% voting share) and Mr. P Mahendra Kumar (Rs. 2,59,37,825/- with 7% voting share). Form-G was published on 2021-10-11, with a submission deadline of 2021-10-26. The RP received four resolution plans by 2021-12-17. The CoC evaluated the plans and approved the plan
…Sign in to view the parties.
The petition filed by Mr. Pudhota Mahendra Kumar…
The Interim Resolution Professional (IRP) made a…
The case involves the approval of a resolution plan for M/S Sankhya Infotech Limited, a corporate debtor undergoing the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated after the admission of a petition filed under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. An Interim Resolution Professional (IRP) was appointed, who later continued as the Resolution Professional (RP). The RP invited claims from creditors, constituted a Committee of Creditors (CoC), and invited prospective resolution applicants to submit resolution plans.
Mr. Pudhota Mahendra Kumar Choudhary initiated proceedings against M/S Sankhya Infotech Limited under Section 7 of the IBC, which was admitted on 2021-07-28, leading to the commencement of CIRP. Mr. Jagadees Kumar Morri was appointed as the Interim Resolution Professional (IRP) and continued as the Resolution Professional (RP). The RP made a public announcement on 2021-08-04, inviting claims from creditors. The RP admitted claims from financial creditors, including IDBI Bank Ltd (Rs. 33,39,85,824/- with 92% voting share) and Mr. P Mahendra Kumar (Rs. 2,59,37,825/- with 7% voting share). Form-G was published on 2021-10-11, with a submission deadline of 2021-10-26. The RP received four resolution plans by 2021-12-17. The CoC evaluated the plans and approved the plan
…The petition filed by Mr. Pudhota Mahendra Kumar…
The Interim Resolution Professional (IRP) made a…