The application pertains to the approval of a resolution plan submitted by JTL Industries Limited for RCI Industries and Technologies Limited, a corporate debtor undergoing CIRP. The CIRP was initiated following an application under Section 9 of the IBC by Standard Chartered Bank (Singapore) Limited.
CIRP was initiated against RCI Industries and Technologies Limited based on a Section 9 application by Standard Chartered Bank (Singapore) Limited.
Mr. Brijesh Singh Bhadauriya was appointed as the Resolution Professional (RP).
JTL Industries Limited submitted a resolution plan that was approved by the CoC with 98.05% voting share.
The resolution plan involves the acquisition of 100% equity of the Corporate Debtor by JTL Industries Limited.
The fair value of the Corporate Debtor is Rs. 5441.85 Lakhs, and the liquidation value is Rs. 3831.61 Lakhs.
The resolution plan provides for the payment of CIRP costs, secured financial creditors, operational creditors, and workmen.
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CIRP initiated against…
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The application pertains to the approval of a resolution plan submitted by JTL Industries Limited for RCI Industries and Technologies Limited, a corporate debtor undergoing CIRP. The CIRP was initiated following an application under Section 9 of the IBC by Standard Chartered Bank (Singapore) Limited.
CIRP was initiated against RCI Industries and Technologies Limited based on a Section 9 application by Standard Chartered Bank (Singapore) Limited.
Mr. Brijesh Singh Bhadauriya was appointed as the Resolution Professional (RP).
JTL Industries Limited submitted a resolution plan that was approved by the CoC with 98.05% voting share.
The resolution plan involves the acquisition of 100% equity of the Corporate Debtor by JTL Industries Limited.
The fair value of the Corporate Debtor is Rs. 5441.85 Lakhs, and the liquidation value is Rs. 3831.61 Lakhs.
The resolution plan provides for the payment of CIRP costs, secured financial creditors, operational creditors, and workmen.
…CIRP initiated against…
Public announc…