Bank of India initiated the Corporate Insolvency Resolution Process (CIRP) against Vishal Structurals Private Limited. Mr. Prashant Jain was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). A Resolution Plan submitted by Bekem Infra Projects Private Limited was approved by 100% majority of the Committee of Creditors (CoC). The RP then filed an application with the National Company Law Tribunal (NCLT) for the approval of this Resolution Plan. During the process, the Employees' Provident Fund Organisation (EPFO) raised an objection regarding its claim for statutory dues, penal damages, and interest.
Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Vishal Structurals Private Limited.
Mr. Prashant Jain was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) for Vishal Structurals Private Limited.
The CIRP commenced on 12.03.2025.
The Committee of Creditors (CoC) was constituted and comprised solely of Bank of India, a Secured Financial Creditor.
Bekem Infra Projects Private Limited submitted a Resolution Plan dated 01.01.2026.
The Resolution Plan was approved by 100% majority of the CoC in its 7th meeting held on 01.12.2025, adjourned to 04.12.2025.
The RP filed an application (IA(IBC)(Plan)/27/MB/2026) seeking approval of the Resolution Plan.
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Vishal Structurals…
Corporate Insolvency Resolution Process…
Bank of India initiated the Corporate Insolvency Resolution Process (CIRP) against Vishal Structurals Private Limited. Mr. Prashant Jain was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP). A Resolution Plan submitted by Bekem Infra Projects Private Limited was approved by 100% majority of the Committee of Creditors (CoC). The RP then filed an application with the National Company Law Tribunal (NCLT) for the approval of this Resolution Plan. During the process, the Employees' Provident Fund Organisation (EPFO) raised an objection regarding its claim for statutory dues, penal damages, and interest.
Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Vishal Structurals Private Limited.
Mr. Prashant Jain was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) for Vishal Structurals Private Limited.
The CIRP commenced on 12.03.2025.
The Committee of Creditors (CoC) was constituted and comprised solely of Bank of India, a Secured Financial Creditor.
Bekem Infra Projects Private Limited submitted a Resolution Plan dated 01.01.2026.
The Resolution Plan was approved by 100% majority of the CoC in its 7th meeting held on 01.12.2025, adjourned to 04.12.2025.
The RP filed an application (IA(IBC)(Plan)/27/MB/2026) seeking approval of the Resolution Plan.
…Vishal Structurals…
Corporate Insolvency Resolution Process…