The case pertains to the Corporate Insolvency Resolution Process (CIRP) of UCAL Auto Private Limited, initiated following an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered by IBA/1237/2019, with the Tribunal's order dated 04.06.2021. Initially, Mr. Narayanan Seshasayee was appointed as the Interim Resolution Professional (IRP), later replaced by Mrs. Renuka Devi Rangaswamy. The Committee of Creditors (CoC) was formed, and several meetings were conducted to evaluate resolution plans. Suja Shoei Industries Private Limited submitted a resolution plan, which was eventually approved by the CoC. The resolution plan involves a scheme of merger where UCAL Auto Private Limited (Transferor) is merged with Suja Shoei
…UCAL Auto Private Limited (UAPL) underwent Corporate Insolvency Resolution Process (CIRP) following an application under Section 9 of the IBC, 2016. The CIRP was initiated by IBA/1237/2019. UCAL Products Private Limited (UPPL) is an associate company of UCAL Auto Private Limited and is also undergoing CIRP. Renuka Devi Rangaswamy was appointed as the Resolution Professional (RP). The RP published Form-G, inviting resolution plans. Suja Shoei Industries Private Limited submitted a resolution plan, proposing a merger with UCAL Auto Private Limited. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan includes provisions for payment to creditors, transfer of assets, and management of the corporate debtor. One of the
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Application filed under…
Tribunal initiated Corporate Insolvency…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of UCAL Auto Private Limited, initiated following an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered by IBA/1237/2019, with the Tribunal's order dated 04.06.2021. Initially, Mr. Narayanan Seshasayee was appointed as the Interim Resolution Professional (IRP), later replaced by Mrs. Renuka Devi Rangaswamy. The Committee of Creditors (CoC) was formed, and several meetings were conducted to evaluate resolution plans. Suja Shoei Industries Private Limited submitted a resolution plan, which was eventually approved by the CoC. The resolution plan involves a scheme of merger where UCAL Auto Private Limited (Transferor) is merged with Suja Shoei
…UCAL Auto Private Limited (UAPL) underwent Corporate Insolvency Resolution Process (CIRP) following an application under Section 9 of the IBC, 2016. The CIRP was initiated by IBA/1237/2019. UCAL Products Private Limited (UPPL) is an associate company of UCAL Auto Private Limited and is also undergoing CIRP. Renuka Devi Rangaswamy was appointed as the Resolution Professional (RP). The RP published Form-G, inviting resolution plans. Suja Shoei Industries Private Limited submitted a resolution plan, proposing a merger with UCAL Auto Private Limited. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan includes provisions for payment to creditors, transfer of assets, and management of the corporate debtor. One of the
…Application filed under…
Tribunal initiated Corporate Insolvency…