The case involves an application under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the approval of a Resolution Plan for Serampore Belting Works Private Limited. The underlying Company Petition in CP (IB) No.1493/KB/2018 was filed by Sree Tycofab Pvt Ltd, the Operational Creditor, against Serampore Belting Works Private Limited, the Corporate Debtor, under section 9 of the Code, which was admitted vide order dated 09 August 2019. Mr. Joydev Sengupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The IRP made a public
…Sree Tycofab Pvt Ltd, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Serampore Belting Works Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on August 9, 2019. Joydev Sengupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcement was made on August 17, 2019, inviting claims from creditors. The Committee of Creditors (CoC) was constituted on August 30, 2019, and later reconstituted. The Resolution Applicant, Ashish Baldwa, submitted a Resolution Plan, which was revised multiple times based on discussions with the CoC. The CoC approved the Resolution Plan with 100% voting share.
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The underlying Company Petition in CP (IB)…
The Company Petition…
The case involves an application under Section 30(6) and Section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for the approval of a Resolution Plan for Serampore Belting Works Private Limited. The underlying Company Petition in CP (IB) No.1493/KB/2018 was filed by Sree Tycofab Pvt Ltd, the Operational Creditor, against Serampore Belting Works Private Limited, the Corporate Debtor, under section 9 of the Code, which was admitted vide order dated 09 August 2019. Mr. Joydev Sengupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The IRP made a public
…Sree Tycofab Pvt Ltd, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Serampore Belting Works Private Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on August 9, 2019. Joydev Sengupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcement was made on August 17, 2019, inviting claims from creditors. The Committee of Creditors (CoC) was constituted on August 30, 2019, and later reconstituted. The Resolution Applicant, Ashish Baldwa, submitted a Resolution Plan, which was revised multiple times based on discussions with the CoC. The CoC approved the Resolution Plan with 100% voting share.
…The underlying Company Petition in CP (IB)…
The Company Petition…