The case pertains to an application filed under Section 30(6) and Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional seeking approval of the Resolution Plan submitted by Kamini Metalliks Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 24.02.2020, and Mr. Gaurav Adukia was appointed as the Interim Resolution Professional. The constitution of the Committee of Creditors (COC) was initially stayed by the NCLAT, but after the stay was vacated on 24.07.2020, the COC was constituted on 29.07.2020. Public announcement was made on 04.03.2020, inviting claims from creditors. The RP received 5 expressions of interest from prospective resolution applicants.
The Corporate Debtor, Tuljabhavani Cold Storage Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated by ICICI Bank Limited. The CIRP was triggered by an order dated 24.02.2020. Mr. Gaurav Adukia was appointed as the Interim Resolution Professional. The Committee of Creditors (COC) was constituted on 29.07.2020, following the vacation of a stay imposed by the NCLAT. Public announcements were made to invite claims from creditors. The Resolution Professional received 5 expressions of interest from prospective resolution applicants. The fair value of the Corporate Debtor was assessed at Rs. 13.48 Crores, and the liquidation value at Rs. 9.70 Crores. The COC approved the Resolution Plan submitted by Kamini Metalliks Pvt. Ltd. with 100% voting
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Corporate Insolvency Resolution Process (CIRP)…
Hon'ble NCLAT stay…
The case pertains to an application filed under Section 30(6) and Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by the Resolution Professional seeking approval of the Resolution Plan submitted by Kamini Metalliks Pvt. Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by the NCLT Mumbai Bench on 24.02.2020, and Mr. Gaurav Adukia was appointed as the Interim Resolution Professional. The constitution of the Committee of Creditors (COC) was initially stayed by the NCLAT, but after the stay was vacated on 24.07.2020, the COC was constituted on 29.07.2020. Public announcement was made on 04.03.2020, inviting claims from creditors. The RP received 5 expressions of interest from prospective resolution applicants.
The Corporate Debtor, Tuljabhavani Cold Storage Private Limited, underwent Corporate Insolvency Resolution Process (CIRP) initiated by ICICI Bank Limited. The CIRP was triggered by an order dated 24.02.2020. Mr. Gaurav Adukia was appointed as the Interim Resolution Professional. The Committee of Creditors (COC) was constituted on 29.07.2020, following the vacation of a stay imposed by the NCLAT. Public announcements were made to invite claims from creditors. The Resolution Professional received 5 expressions of interest from prospective resolution applicants. The fair value of the Corporate Debtor was assessed at Rs. 13.48 Crores, and the liquidation value at Rs. 9.70 Crores. The COC approved the Resolution Plan submitted by Kamini Metalliks Pvt. Ltd. with 100% voting
…Corporate Insolvency Resolution Process (CIRP)…
Hon'ble NCLAT stay…