The case involves an application filed by Mr. Prakul Thadi, the Resolution Professional (RP) of Indrajit Power Private Limited, seeking approval of a resolution plan submitted by the consortium of Evonith Metallics Limited and Evonith Holdings Pte. Limited, Singapore.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Indrajit Power Private Limited based on an application filed by Yes Bank Limited.
Mr. Bhuvan Madan was initially appointed as the Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was duly constituted after the dismissal of an appeal by the Hon'ble NCLAT.
The CoC resolved to replace the IRP with Mr. Prakul Thadi as the Resolution Professional (RP).
The RP published an invitation for Expression of Interest (EOI) and received twelve EOIs.
The CoC approved the resolution plan submitted by the Evonith Consortium with a majority of 99.71% voting share.
The Successful Resolution Applicant (SRA) is a consortium of Evonith Metallics Limited and Evonith Holdings Pte. Limited.
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Corporate Insolvency…
Hon'ble NCLAT directed the IRP not to take any…
The case involves an application filed by Mr. Prakul Thadi, the Resolution Professional (RP) of Indrajit Power Private Limited, seeking approval of a resolution plan submitted by the consortium of Evonith Metallics Limited and Evonith Holdings Pte. Limited, Singapore.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Indrajit Power Private Limited based on an application filed by Yes Bank Limited.
Mr. Bhuvan Madan was initially appointed as the Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was duly constituted after the dismissal of an appeal by the Hon'ble NCLAT.
The CoC resolved to replace the IRP with Mr. Prakul Thadi as the Resolution Professional (RP).
The RP published an invitation for Expression of Interest (EOI) and received twelve EOIs.
The CoC approved the resolution plan submitted by the Evonith Consortium with a majority of 99.71% voting share.
The Successful Resolution Applicant (SRA) is a consortium of Evonith Metallics Limited and Evonith Holdings Pte. Limited.
…Corporate Insolvency…
Hon'ble NCLAT directed the IRP not to take any…