The Corporate Insolvency Resolution Process (CIRP) for M/s Alpine Realtech Private Limited was initiated by Punjab & Sind Bank under Section 7 of the IBC, 2016, on March 12, 2019. Ms. Anju Agarwal was appointed as the Interim Resolution Professional (IRP). Multiple attempts to solicit resolution plans were made, and the CIRP period was extended several times. Initially, resolution plans were either not found viable or did not receive sufficient CoC approval. Subsequently, the CoC resolved for liquidation under Section 33, but an NCLAT order directed re-voting on the highest resolution plan. Savfab Developers Private Limited submitted a resolution plan, which, after several addendums and revisions, garnered a 99.84% approval from the Committee of Creditors (CoC).

The Corporate Insolvency Resolution Process (CIRP) for M/s Alpine Realtech Private Limited was initiated by Punjab & Sind Bank under Section 7 of the IBC, 2016, on March 12, 2019. Ms. Anju Agarwal was appointed as the Interim Resolution Professional (IRP). Multiple attempts to solicit resolution plans were made, and the CIRP period was extended several times. Initially, resolution plans were either not found viable or did not receive sufficient CoC approval. Subsequently, the CoC resolved for liquidation under Section 33, but an NCLAT order directed re-voting on the highest resolution plan. Savfab Developers Private Limited submitted a resolution plan, which, after several addendums and revisions, garnered a 99.84% approval from the Committee of Creditors (CoC).