The Corporate Insolvency Resolution Process (CIRP) was initiated against Arshiya Northern FTWZ Limited. The process involved multiple stages of inviting and evaluating resolution plans, addressing complex issues such as securing spine road access, and navigating legal challenges filed by unsuccessful Prospective Resolution Applicants (PRAs) before the NCLT, NCLAT, and the Supreme Court. Ultimately, the Supreme Court directed the Committee of Creditors (CoC) to reconsider the Resolution Plan submitted by Athena India Opportunities.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Arshiya Northern FTWZ Limited on 14.11.2022.
Mr. Ram Ratan Kanoongo was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.
Public announcements in Form A inviting claims from creditors were issued on 02.12.2022 and republished on 20.02.2023.
The Corporate Debtor challenged the CIRP admission order dated 14.11.2022 before the Hon'ble NCLAT, which initially granted a stay but later vacated it on 15.02.2023.
The Committee of Creditors (CoC) was constituted on 14.03.2023 and subsequently reconstituted on 03.03.2025, with IDFC First Bank Limited's claim reclassified as secured on 11.12.2024.
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
Corporate Debtor filed Company Appeal (AT)…
The Corporate Insolvency Resolution Process (CIRP) was initiated against Arshiya Northern FTWZ Limited. The process involved multiple stages of inviting and evaluating resolution plans, addressing complex issues such as securing spine road access, and navigating legal challenges filed by unsuccessful Prospective Resolution Applicants (PRAs) before the NCLT, NCLAT, and the Supreme Court. Ultimately, the Supreme Court directed the Committee of Creditors (CoC) to reconsider the Resolution Plan submitted by Athena India Opportunities.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Arshiya Northern FTWZ Limited on 14.11.2022.
Mr. Ram Ratan Kanoongo was appointed as the Interim Resolution Professional (IRP) of the Corporate Debtor.
Public announcements in Form A inviting claims from creditors were issued on 02.12.2022 and republished on 20.02.2023.
The Corporate Debtor challenged the CIRP admission order dated 14.11.2022 before the Hon'ble NCLAT, which initially granted a stay but later vacated it on 15.02.2023.
The Committee of Creditors (CoC) was constituted on 14.03.2023 and subsequently reconstituted on 03.03.2025, with IDFC First Bank Limited's claim reclassified as secured on 11.12.2024.
…Corporate Insolvency Resolution Process…
Corporate Debtor filed Company Appeal (AT)…