Upon his taking over charge as IRP, the Applicant herein made public announcement in Form-A inviting claims from the creditors of the Corporate Debtor.
NCLT Mumbai approves Ashdan Properties-led consortium’s plan for D.S. Kulkarni Developers, marking a pivotal step in IBC resolution process.
NCLT Mumbai approves Edelweiss ARC’s resolution plan for Siddharth World Trade, ensuring a smooth corporate restructuring under IBC with 100% CoC approval.
NCLT Mumbai approves Saraswat Co-op Bank’s resolution plan for Orange Medicare, ensuring seamless revival with unanimous CoC support under IBC.
NCLT Hyderabad approves Amrutha Constructions’ resolution plan for Galada Power, ensuring its revival with unanimous CoC support under IBC.
NCLT Ahmedabad approves Smeet Dineshkumar Chaudhari’s resolution plan for Salebhai Internet Limited, ensuring its revival with unanimous CoC support under IBC.
NCLT has granted approval to Ace Infracity Developers for their resolution plan to acquire debt-ridden 3C Homes. Read details of approved plan, including provisions for compensation, possession of residential plots, and compliance with IBC.
Jupiter Wagons Ltd (JWL) receives approval from Kolkata National Company Law Tribunal (NCLT) for its resolution plan to acquire a controlling stake in Stone India.
On the date of approval of Resolution Plan by Adjudicating Authority, all such claims which are not a part of Resolution Plan, shall stand extinguished and no person will be entitled to initiate or continue any proceedings in respect to a claim which is not a part of the Resolution Plan.
Law is well-settled that with the finalization of insolvency resolution plan and the approval thereof by the NCLT, all dues of creditors, Corporate, Statutory and others stand extinguished and no demand can be raised for the period prior to the specified date.
