Omkara Assets Reconstruction Pvt. Ltd., the sole Financial Creditor and Committee of Creditors (CoC) member of Vidhata Metal Pvt. Ltd. (Corporate Debtor), filed an application (IA(Liq.)/13/2025) seeking the initiation of liquidation proceedings. This application followed the 17th CoC meeting on March 19, 2025, where the CoC dissented from the resolution plan and unanimously assented to the liquidation of the Corporate Debtor and the appointment of CA Snehal Arvind Kamdar as Liquidator. The maximum period prescribed for the Corporate Insolvency Resolution Process (CIRP), 180 days, had also expired.
An application IA(Liq.)/13/2025 was filed seeking liquidation of the Corporate Debtor, M/s Vidhata Metal Private Limited, under Section 33 of the Insolvency & Bankruptcy Code, 2016.
The application also sought the appointment of CA Snehal Arvind Kamdar as the Liquidator of the Corporate Debtor.
The 17th Committee of Creditors (CoC) meeting was held on March 19, 2025.
Omkara Assets Reconstruction Private Limited, the sole CoC member, dissented to the approval of the resolution plan and assented to the agenda for liquidation and appointment of CA Snehal Arvind Kamdar as Liquidator.
The resolution for liquidation and appointment of the Liquidator was supported by 100% of the Financial Creditor's voting share.
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The 17th Committee of Creditors (CoC)…
The NCLT delivered the order for the…
Omkara Assets Reconstruction Pvt. Ltd., the sole Financial Creditor and Committee of Creditors (CoC) member of Vidhata Metal Pvt. Ltd. (Corporate Debtor), filed an application (IA(Liq.)/13/2025) seeking the initiation of liquidation proceedings. This application followed the 17th CoC meeting on March 19, 2025, where the CoC dissented from the resolution plan and unanimously assented to the liquidation of the Corporate Debtor and the appointment of CA Snehal Arvind Kamdar as Liquidator. The maximum period prescribed for the Corporate Insolvency Resolution Process (CIRP), 180 days, had also expired.
An application IA(Liq.)/13/2025 was filed seeking liquidation of the Corporate Debtor, M/s Vidhata Metal Private Limited, under Section 33 of the Insolvency & Bankruptcy Code, 2016.
The application also sought the appointment of CA Snehal Arvind Kamdar as the Liquidator of the Corporate Debtor.
The 17th Committee of Creditors (CoC) meeting was held on March 19, 2025.
Omkara Assets Reconstruction Private Limited, the sole CoC member, dissented to the approval of the resolution plan and assented to the agenda for liquidation and appointment of CA Snehal Arvind Kamdar as Liquidator.
The resolution for liquidation and appointment of the Liquidator was supported by 100% of the Financial Creditor's voting share.
…The 17th Committee of Creditors (CoC)…
The NCLT delivered the order for the…