The case involves a resolution plan submitted by Aravali Goods & Suppliers Pvt. Ltd. for Balajee Ingot India Private Limited, a corporate debtor undergoing CIRP. The RP, Niraj Kumar Agrawal, sought approval for the plan, which was approved by the CoC with 100% voting share.
Balajee Ingot India Private Limited underwent CIRP after defaulting on a financial credit from Nirmal Kanodia.
Niraj Kumar Agrawal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
The Committee of Creditors (CoC) was formed, consisting of Nirmal Kanodia and Sipra Chouhan Das.
Aravali Goods & Suppliers Pvt. Ltd. submitted a resolution plan, which was approved by the CoC with 100% voting share.
The resolution plan proposed a total resolution amount of Rs. 20,00,000 against admitted claims of Rs. 20,32,26,727, resulting in a 99% haircut.
The resolution plan allocated a minimal amount to operational creditors and government dues, leading to significant haircuts.
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Balajee Ingot a…
Petition allowed and Mr. Niraj Kumar…
The case involves a resolution plan submitted by Aravali Goods & Suppliers Pvt. Ltd. for Balajee Ingot India Private Limited, a corporate debtor undergoing CIRP. The RP, Niraj Kumar Agrawal, sought approval for the plan, which was approved by the CoC with 100% voting share.
Balajee Ingot India Private Limited underwent CIRP after defaulting on a financial credit from Nirmal Kanodia.
Niraj Kumar Agrawal was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
The Committee of Creditors (CoC) was formed, consisting of Nirmal Kanodia and Sipra Chouhan Das.
Aravali Goods & Suppliers Pvt. Ltd. submitted a resolution plan, which was approved by the CoC with 100% voting share.
The resolution plan proposed a total resolution amount of Rs. 20,00,000 against admitted claims of Rs. 20,32,26,727, resulting in a 99% haircut.
The resolution plan allocated a minimal amount to operational creditors and government dues, leading to significant haircuts.
…Balajee Ingot a…
Petition allowed and Mr. Niraj Kumar…