The Corporate Debtor, M/s.Splendid Metal Products Limited (now Thalaivar Steels Limited), was admitted into CIRP on 04.04.2019. A Resolution Plan, jointly submitted by M/s.Antanium Holdings Private Limited (AHPL) and M/s.Invent Assets Securitisation and Reconstruction Private Limited (IASRPL), was approved by the CoC on 08.10.2020 and by the Adjudicating Authority on 08.04.2021. Subsequently, M/s.Puissant Global Private Limited (a wholly owned subsidiary of AHPL) was substituted as the Successful Resolution Applicant (SRA) on 31.10.2023, undertaking to comply with the plan. The plan stipulated seven instalments for payment, but the SRA repeatedly defaulted on payments, with the second and third instalments paid belatedly with interest, and the fourth and subsequent

The Corporate Debtor, M/s.Splendid Metal Products Limited (now Thalaivar Steels Limited), was admitted into CIRP on 04.04.2019. A Resolution Plan, jointly submitted by M/s.Antanium Holdings Private Limited (AHPL) and M/s.Invent Assets Securitisation and Reconstruction Private Limited (IASRPL), was approved by the CoC on 08.10.2020 and by the Adjudicating Authority on 08.04.2021. Subsequently, M/s.Puissant Global Private Limited (a wholly owned subsidiary of AHPL) was substituted as the Successful Resolution Applicant (SRA) on 31.10.2023, undertaking to comply with the plan. The plan stipulated seven instalments for payment, but the SRA repeatedly defaulted on payments, with the second and third instalments paid belatedly with interest, and the fourth and subsequent