The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a resolution plan for Indison Agro Foods Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition under Section 7 of the IBC by Indian Bank.
The CIRP of Indison Agro Foods Limited was initiated on 03.03.2023 following a Section 7 petition by Indian Bank.
Teena Saraswat Pandey was appointed as the Interim Resolution Professional.
The Committee of Creditors (CoC) was constituted on 25.03.2023, comprising State Bank of India (52.71%), Indian Bank (36.30%), and Omkara Assets Reconstruction Pvt. Ltd. (10.99%).
M/s Kishore Associates AOP's resolution plan was approved by the CoC with 100% voting share on 22.11.2024.
The fair value of the assets of the corporate debtor is Rs. 19,09,47,588, and the liquidation value is Rs. 13,62,80,925.
The successful resolution applicant has proposed payment of Rs. 23,50,06,108, including CIRP costs of Rs. 1,75,46,547.
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The Corporate Insolvency Resolution Process…
The Committee of Creditors (CoC) was…
The case pertains to an application filed under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, for the approval of a resolution plan for Indison Agro Foods Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition under Section 7 of the IBC by Indian Bank.
The CIRP of Indison Agro Foods Limited was initiated on 03.03.2023 following a Section 7 petition by Indian Bank.
Teena Saraswat Pandey was appointed as the Interim Resolution Professional.
The Committee of Creditors (CoC) was constituted on 25.03.2023, comprising State Bank of India (52.71%), Indian Bank (36.30%), and Omkara Assets Reconstruction Pvt. Ltd. (10.99%).
M/s Kishore Associates AOP's resolution plan was approved by the CoC with 100% voting share on 22.11.2024.
The fair value of the assets of the corporate debtor is Rs. 19,09,47,588, and the liquidation value is Rs. 13,62,80,925.
The successful resolution applicant has proposed payment of Rs. 23,50,06,108, including CIRP costs of Rs. 1,75,46,547.
…The Corporate Insolvency Resolution Process…
The Committee of Creditors (CoC) was…