Authum Investment and Infrastructure Limited filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to treat Reliance Commercial Finance Limited (RCFL) at par with other assenting secured financial creditors in the Committee of Creditors (CoC) and to receive its claim according to its voting share of 11.03%.
The Adjudicating Authority admitted the Company Petition under Section 7 of the IBC filed by IDBI Trusteeship Services Ltd for initiation of CIRP of Reliance Broadcast Network Ltd on 24.02.2023.
Mr. Rohit R. Mehra was appointed as the Interim Resolution Professional for conducting CIRP proceedings of the Corporate Debtor.
Reliance Commercial Finance Limited (RCFL) filed its claim for an amount of Rs. 80,12,91,568/- in Form C of the CIRP Regulations.
RCFL's claim of Rs. 63,78,27,563/- was admitted as secured financial creditor and voting rights was assigned 11.03% in the CIRP Process.
The resolution plan submitted by M/s. Sapphire Media Ltd was approved by the CoC with 88.97% of voting share in favour, while RCFL, holding 11.03% of voting share, rejected the resolution plan.
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The Adjudicating Authority admitted the Company…
The Resolution Professional issued a public…
Authum Investment and Infrastructure Limited filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions to treat Reliance Commercial Finance Limited (RCFL) at par with other assenting secured financial creditors in the Committee of Creditors (CoC) and to receive its claim according to its voting share of 11.03%.
The Adjudicating Authority admitted the Company Petition under Section 7 of the IBC filed by IDBI Trusteeship Services Ltd for initiation of CIRP of Reliance Broadcast Network Ltd on 24.02.2023.
Mr. Rohit R. Mehra was appointed as the Interim Resolution Professional for conducting CIRP proceedings of the Corporate Debtor.
Reliance Commercial Finance Limited (RCFL) filed its claim for an amount of Rs. 80,12,91,568/- in Form C of the CIRP Regulations.
RCFL's claim of Rs. 63,78,27,563/- was admitted as secured financial creditor and voting rights was assigned 11.03% in the CIRP Process.
The resolution plan submitted by M/s. Sapphire Media Ltd was approved by the CoC with 88.97% of voting share in favour, while RCFL, holding 11.03% of voting share, rejected the resolution plan.
…The Adjudicating Authority admitted the Company…
The Resolution Professional issued a public…