The Corporate Debtor, Kaizen Power Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on December 13, 2019. Mr. Santanu T Ray was appointed as the Interim Resolution Professional (IRP). The IRP published Form A on December 27, 2019, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, with UCO Bank holding 83.58% voting share and Punjab National Bank (E-Oriental Bank of Commerce) holding 16.42%.
Kaizen Power Limited was admitted into CIRP on December 13, 2019.
UCO Bank and Punjab National Bank constituted the Committee of Creditors (CoC).
Mr. Santanu T Ray was appointed as the Interim Resolution Professional (IRP) and later as Resolution Professional (RP).
J Kumar Developers Limited submitted a Resolution Plan.
Suspended directors of Kaizen Power Limited raised objections regarding non-compliance with Section 24(3) of the IBC and alleged multiple modifications of the Resolution Plan.
APIIC raised objections regarding leasehold rights over the land allotted to Kaizen Power Limited.
The CoC approved the Resolution Plan with 100% voting share.
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The Corporate Debtor…
The IRP published Form…
The Corporate Debtor, Kaizen Power Limited, was admitted into Corporate Insolvency Resolution Process (CIRP) on December 13, 2019. Mr. Santanu T Ray was appointed as the Interim Resolution Professional (IRP). The IRP published Form A on December 27, 2019, inviting claims from creditors. The Committee of Creditors (CoC) was constituted, with UCO Bank holding 83.58% voting share and Punjab National Bank (E-Oriental Bank of Commerce) holding 16.42%.
Kaizen Power Limited was admitted into CIRP on December 13, 2019.
UCO Bank and Punjab National Bank constituted the Committee of Creditors (CoC).
Mr. Santanu T Ray was appointed as the Interim Resolution Professional (IRP) and later as Resolution Professional (RP).
J Kumar Developers Limited submitted a Resolution Plan.
Suspended directors of Kaizen Power Limited raised objections regarding non-compliance with Section 24(3) of the IBC and alleged multiple modifications of the Resolution Plan.
APIIC raised objections regarding leasehold rights over the land allotted to Kaizen Power Limited.
The CoC approved the Resolution Plan with 100% voting share.
…The Corporate Debtor…
The IRP published Form…