The case pertains to IA No. 3636/ND/2023 filed in Company Petition No. (IB)-662(ND)/2021 by Mr. Amit Agrawal, the Resolution Professional (RP) of Vistar Construction Private Limited, seeking approval of a revised resolution plan submitted by M/s Masatya Technologies Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Vistar Construction Private Limited based on an application by Pragati Impex India Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The RP constituted a Committee of Creditors (CoC) with Pragati Impex India Pvt Limited as the sole financial creditor. The RP received two resolution plans, one from M/s Masatya Technologies Private Limited and another from M/s Evalina Powertec Systems
…1. Pragati Impex India Private Limited initiated CIRP against Vistar Construction Private Limited under Section 7 of IBC, 2016.
2. The application was admitted on 05.08.2022.
3. Mr. Ankit Agrawal was initially appointed as IRP and later replaced by Mr. Amit Agrawal as RP.
4. The IRP made a public announcement on 06.08.2022, inviting claims.
5. The RP constituted a CoC comprising Pragati Impex India Pvt Limited as the sole financial creditor.
6. The RP published Form G on 07.10.2022 and 06.01.2023, inviting EOIs.
7. The RP received 5 EOIs and subsequently received 2 resolution plans from M/s Masatya Technologies Private Limited and M/s Evalina Powertec Systems Private Limited.
8. The CoC asked both PRAs to revise their plans.
9. M/s Masatya Technologies Private Limited
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CIRP initiated against…
The case pertains to IA No. 3636/ND/2023 filed in Company Petition No. (IB)-662(ND)/2021 by Mr. Amit Agrawal, the Resolution Professional (RP) of Vistar Construction Private Limited, seeking approval of a revised resolution plan submitted by M/s Masatya Technologies Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated against Vistar Construction Private Limited based on an application by Pragati Impex India Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The RP constituted a Committee of Creditors (CoC) with Pragati Impex India Pvt Limited as the sole financial creditor. The RP received two resolution plans, one from M/s Masatya Technologies Private Limited and another from M/s Evalina Powertec Systems
…1. Pragati Impex India Private Limited initiated CIRP against Vistar Construction Private Limited under Section 7 of IBC, 2016.
2. The application was admitted on 05.08.2022.
3. Mr. Ankit Agrawal was initially appointed as IRP and later replaced by Mr. Amit Agrawal as RP.
4. The IRP made a public announcement on 06.08.2022, inviting claims.
5. The RP constituted a CoC comprising Pragati Impex India Pvt Limited as the sole financial creditor.
6. The RP published Form G on 07.10.2022 and 06.01.2023, inviting EOIs.
7. The RP received 5 EOIs and subsequently received 2 resolution plans from M/s Masatya Technologies Private Limited and M/s Evalina Powertec Systems Private Limited.
8. The CoC asked both PRAs to revise their plans.
9. M/s Masatya Technologies Private Limited
Company Petit…
CIRP initiated against…