The case pertains to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Shree Ambika Sugars Limited. The application was filed under Sections 230-232 and 66 of the Companies Act, 2013, by Mr. Anurag Goel, the liquidator, seeking sanction and confirmation of a Scheme of Compromise proposed by SNJ Distillers Private Limited. The Committee of Creditors (CoC) had earlier resolved to liquidate the Corporate Debtor. The Liquidator then invited proposals for a scheme of compromise under Section 230 of the Companies Act, 2013. SNJ Distillers Private Limited submitted a scheme, which was then considered by the Stakeholders Consultation Committee (SCC). The SCC gave its in-principle consent for the scheme.
The Corporate Debtor, Shree Ambika Sugars Limited, was admitted into CIRP on 2019-12-18. The Petitioner, Mr. Anurag Goel, was appointed as the IRP and later confirmed as the RP. An Expression of Interest (EoI) was issued on 2020-08-14, and two resolution plans were received. The CoC did not approve the resolution plan and resolved to liquidate the Corporate Debtor. The Tribunal ordered liquidation on 2022-06-20. The Liquidator carried out the liquidation process and invited proposals for a scheme of compromise under Section 230 of the Companies Act, 2013. SNJ Distillers Private Limited submitted a scheme. The Stakeholders Consultation Committee (SCC) was formed and gave in-principle consent for the scheme. The scheme proposed a total payment of INR 180,06,00,000/-
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The case pertains to the Corporate Insolvency Resolution Process (CIRP) and subsequent liquidation of Shree Ambika Sugars Limited. The application was filed under Sections 230-232 and 66 of the Companies Act, 2013, by Mr. Anurag Goel, the liquidator, seeking sanction and confirmation of a Scheme of Compromise proposed by SNJ Distillers Private Limited. The Committee of Creditors (CoC) had earlier resolved to liquidate the Corporate Debtor. The Liquidator then invited proposals for a scheme of compromise under Section 230 of the Companies Act, 2013. SNJ Distillers Private Limited submitted a scheme, which was then considered by the Stakeholders Consultation Committee (SCC). The SCC gave its in-principle consent for the scheme.
The Corporate Debtor, Shree Ambika Sugars Limited, was admitted into CIRP on 2019-12-18. The Petitioner, Mr. Anurag Goel, was appointed as the IRP and later confirmed as the RP. An Expression of Interest (EoI) was issued on 2020-08-14, and two resolution plans were received. The CoC did not approve the resolution plan and resolved to liquidate the Corporate Debtor. The Tribunal ordered liquidation on 2022-06-20. The Liquidator carried out the liquidation process and invited proposals for a scheme of compromise under Section 230 of the Companies Act, 2013. SNJ Distillers Private Limited submitted a scheme. The Stakeholders Consultation Committee (SCC) was formed and gave in-principle consent for the scheme. The scheme proposed a total payment of INR 180,06,00,000/-
…Corporate D…
Expression of…