The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers Pvt. Ltd. based on an application by Praveen Kumar Garg, an Operational Creditor. Mr. Sumit Shukla was initially appointed as the Interim Resolution Professional (IRP), and subsequently, Mr. Arvind Mittal was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and a Request for Resolution Plan (RFRP) was issued, leading to the submission of four resolution plans.
The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers Pvt. Ltd. by an order dated 09.08.2024.
Mr. Sumit Shukla was initially appointed as the Interim Resolution Professional (IRP).
Mr. Arvind Mittal was subsequently appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC).
Four Prospective Resolution Applicants (PRAs) submitted resolution plans: Raj Kumar Singh, Neeta Goyal, Liverbird International Private Limited, and SPG Infraprojects Private Limited.
The CoC adopted a Swiss Challenge Mechanism, which resulted in an enhancement of the resolution plan value by 42.89%, bringing the final value to Rs. 2.75 Crores.
SPG Infra Projects Pvt. Ltd. emerged as the highest (H1) bidder after the Challenge Mechanism.
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The Corporate Insolvency Resolution Process…
The Committee of Creditors (CoC) deliberated on…
The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers Pvt. Ltd. based on an application by Praveen Kumar Garg, an Operational Creditor. Mr. Sumit Shukla was initially appointed as the Interim Resolution Professional (IRP), and subsequently, Mr. Arvind Mittal was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and a Request for Resolution Plan (RFRP) was issued, leading to the submission of four resolution plans.
The Corporate Insolvency Resolution Process (CIRP) was initiated against APS Infra Engineers Pvt. Ltd. by an order dated 09.08.2024.
Mr. Sumit Shukla was initially appointed as the Interim Resolution Professional (IRP).
Mr. Arvind Mittal was subsequently appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC).
Four Prospective Resolution Applicants (PRAs) submitted resolution plans: Raj Kumar Singh, Neeta Goyal, Liverbird International Private Limited, and SPG Infraprojects Private Limited.
The CoC adopted a Swiss Challenge Mechanism, which resulted in an enhancement of the resolution plan value by 42.89%, bringing the final value to Rs. 2.75 Crores.
SPG Infra Projects Pvt. Ltd. emerged as the highest (H1) bidder after the Challenge Mechanism.
…The Corporate Insolvency Resolution Process…
The Committee of Creditors (CoC) deliberated on…