The Corporate Insolvency Resolution Process (CIRP) was initiated against Nirbhay Rasayan (P) Limited, the Corporate Debtor, on 20.10.2023, following an application by Shree Sainath Tradelink (P) Limited, an Operational Creditor. Mr. Sanjay B. Borad, the Resolution Professional (RP) of Nirbhay Rasayan Private Limited, filed an application under Sections 30(6) and 31(1) of the IBC, 2016, seeking approval for the Resolution Plan submitted by Drona Impex Private Limited, the Successful Resolution Applicant (SRA). The Committee of Creditors (CoC) approved this Resolution Plan with a 100% voting share through e-voting.
The present Application has been filed by Mr. Sanjay B. Borad, Resolution Professional of Nirbhay Rasayan Private Limited, under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016.
The Applicant seeks approval of the Resolution Plan dated 05.07.2024 submitted by Drona Impex Private Limited, the Successful Resolution Applicant (SRA).
The Resolution Plan was approved by the Committee of Creditors (CoC) with 100% voting share through e-voting conducted from 10.07.2024 to 11.07.2024.
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Nirbhay Rasayan (P)…
Corporate Insolvency Resolution Process…
The Corporate Insolvency Resolution Process (CIRP) was initiated against Nirbhay Rasayan (P) Limited, the Corporate Debtor, on 20.10.2023, following an application by Shree Sainath Tradelink (P) Limited, an Operational Creditor. Mr. Sanjay B. Borad, the Resolution Professional (RP) of Nirbhay Rasayan Private Limited, filed an application under Sections 30(6) and 31(1) of the IBC, 2016, seeking approval for the Resolution Plan submitted by Drona Impex Private Limited, the Successful Resolution Applicant (SRA). The Committee of Creditors (CoC) approved this Resolution Plan with a 100% voting share through e-voting.
The present Application has been filed by Mr. Sanjay B. Borad, Resolution Professional of Nirbhay Rasayan Private Limited, under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, and Rule 11 of the National Company Law Tribunal Rules, 2016.
The Applicant seeks approval of the Resolution Plan dated 05.07.2024 submitted by Drona Impex Private Limited, the Successful Resolution Applicant (SRA).
The Resolution Plan was approved by the Committee of Creditors (CoC) with 100% voting share through e-voting conducted from 10.07.2024 to 11.07.2024.
…Nirbhay Rasayan (P)…
Corporate Insolvency Resolution Process…