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 the liquidator, Mr. Anurag Goel, seeking sanction and confirmation of a Scheme of Compromise proposed by SNJ Distillers Private Limited. The CoC initially did not approve the resolution plan, leading to the liquidation of 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 consented to by the Stakeholders Consultation Committee (SCC).
Shree Ambika Sugars Limited underwent CIRP and subsequent liquidation. Anurag Goel was appointed as the liquidator. The Committee of Creditors (CoC) did not approve the resolution plan, leading to liquidation. The liquidator 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) consented to the scheme. The liquidator received EoIs from SNJ Distillers (P) Ltd, RKG Fund I, and Raja Laxmi Wind Energy Limited, but only SNJ Distillers and Raja Laxmi Wind Energy Limited submitted schemes. The SCC provided in-principle consent for the scheme submitted by SNJ Distillers (P) Ltd. The scheme proposed a total payment of INR 180,06,00,000/- to
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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 the liquidator, Mr. Anurag Goel, seeking sanction and confirmation of a Scheme of Compromise proposed by SNJ Distillers Private Limited. The CoC initially did not approve the resolution plan, leading to the liquidation of 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 consented to by the Stakeholders Consultation Committee (SCC).
Shree Ambika Sugars Limited underwent CIRP and subsequent liquidation. Anurag Goel was appointed as the liquidator. The Committee of Creditors (CoC) did not approve the resolution plan, leading to liquidation. The liquidator 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) consented to the scheme. The liquidator received EoIs from SNJ Distillers (P) Ltd, RKG Fund I, and Raja Laxmi Wind Energy Limited, but only SNJ Distillers and Raja Laxmi Wind Energy Limited submitted schemes. The SCC provided in-principle consent for the scheme submitted by SNJ Distillers (P) Ltd. The scheme proposed a total payment of INR 180,06,00,000/- to
…Corporate Debtor was…
Applicant issued an…