The case involves an application (I.A. 25/2024) filed by the Resolution Professional of Sushitex Industries Pvt. Ltd. ('the Corporate Debtor') under Sections 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a revised resolution plan submitted by a consortium of HDR Import Export Pvt. Ltd. along with Mr. Prem Ramchandani ('SRA'). The application was filed after the Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application by Bank of India ('Financial Creditor') under Section 7 of the Code. The IRP was appointed on 10.04.2023, and a public announcement was made on 18.04.2023. The Committee of Creditors (CoC) was constituted, with Bank of India holding 100% voting share. The resolution
…1. The Resolution Professional of Sushitex Industries Pvt. Ltd. filed an application (I.A. 25/2024) seeking approval of a revised resolution plan.
2. CIRP was initiated against Sushitex Industries Pvt. Ltd. based on an application by Bank of India under Section 7 of the Code.
3. Mr. Kamal Kishor Gurnani was appointed as the Interim Resolution Professional (IRP) on 10.04.2023.
4. A public announcement was made on 18.04.2023.
5. The Committee of Creditors (CoC) was constituted, with Bank of India holding 100% voting share.
6. HDR Import Export Pvt. Ltd. along with Mr. Prem Ramchandani submitted a resolution plan.
7. HDR Consortium was not initially part of the final list of Prospective Resolution Applicants (PRAs).
8. The CoC approved the resolution plan submitted by HDR
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Mr. Kamal Kishor Gurnani…
A public annou…
The case involves an application (I.A. 25/2024) filed by the Resolution Professional of Sushitex Industries Pvt. Ltd. ('the Corporate Debtor') under Sections 30(6) and 31 of the Insolvency and Bankruptcy Code, 2016, seeking approval of a revised resolution plan submitted by a consortium of HDR Import Export Pvt. Ltd. along with Mr. Prem Ramchandani ('SRA'). The application was filed after the Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application by Bank of India ('Financial Creditor') under Section 7 of the Code. The IRP was appointed on 10.04.2023, and a public announcement was made on 18.04.2023. The Committee of Creditors (CoC) was constituted, with Bank of India holding 100% voting share. The resolution
…1. The Resolution Professional of Sushitex Industries Pvt. Ltd. filed an application (I.A. 25/2024) seeking approval of a revised resolution plan.
2. CIRP was initiated against Sushitex Industries Pvt. Ltd. based on an application by Bank of India under Section 7 of the Code.
3. Mr. Kamal Kishor Gurnani was appointed as the Interim Resolution Professional (IRP) on 10.04.2023.
4. A public announcement was made on 18.04.2023.
5. The Committee of Creditors (CoC) was constituted, with Bank of India holding 100% voting share.
6. HDR Import Export Pvt. Ltd. along with Mr. Prem Ramchandani submitted a resolution plan.
7. HDR Consortium was not initially part of the final list of Prospective Resolution Applicants (PRAs).
8. The CoC approved the resolution plan submitted by HDR
Mr. Kamal Kishor Gurnani…
A public annou…