The application was filed by Rajendra K Bhuta, the Resolution Professional of Prabhat Telecom (India) Limited, seeking approval of the Resolution Plan submitted by a consortium of three individuals: Vishwamani Matamani Tiwari, Parag Malde, and Prabha Vishwamani Tiwari.
Rajendra K Bhuta, the Resolution Professional, filed an application seeking approval of the Resolution Plan for Prabhat Telecom (India) Limited.
The Resolution Plan was initially approved by 98.15% of the Committee of Creditors (CoC).
SBI, UBI, and BOI, collectively holding 85.37% voting share, withdrew their consent to the Resolution Plan.
The Adjudicating Authority dismissed the Plan Approval Application and directed liquidation of the Corporate Debtor.
The NCLAT set aside the Liquidation Order and directed the Adjudicating Authority to decide the matter afresh.
The Adjudicating Authority directed the erstwhile Resolution Professional to convene a meeting of the Committee of Creditors.
…Sign in to view the parties.
CIRP of the Co…
Mr. Rajendra K. Bhuta…
The application was filed by Rajendra K Bhuta, the Resolution Professional of Prabhat Telecom (India) Limited, seeking approval of the Resolution Plan submitted by a consortium of three individuals: Vishwamani Matamani Tiwari, Parag Malde, and Prabha Vishwamani Tiwari.
Rajendra K Bhuta, the Resolution Professional, filed an application seeking approval of the Resolution Plan for Prabhat Telecom (India) Limited.
The Resolution Plan was initially approved by 98.15% of the Committee of Creditors (CoC).
SBI, UBI, and BOI, collectively holding 85.37% voting share, withdrew their consent to the Resolution Plan.
The Adjudicating Authority dismissed the Plan Approval Application and directed liquidation of the Corporate Debtor.
The NCLAT set aside the Liquidation Order and directed the Adjudicating Authority to decide the matter afresh.
The Adjudicating Authority directed the erstwhile Resolution Professional to convene a meeting of the Committee of Creditors.
…CIRP of the Co…
Mr. Rajendra K. Bhuta…