https://www.taxtmi.com/caselaws?id=293909 The National Company Law Tribunal, Kolkata, admitted the Company Petition, initiating Corporate Insolvency Resolution Process against M/s. VSP Udyog Private Limited. The Resolution Plan of M/s. Amit Metaliks Limited was approved by the Committee of Creditors with 95.35% voting shares. After evaluating multiple plans, the revised Resolution Plan was approved, addressing financial proposals, upfront payments, and CIRP costs. The Tribunal found the Plan feasible and in stakeholders' best interest, directing its immediate implementation and cessation of the moratorium order. The Resolution Professional was tasked with transferring records to the Insolvency and Bankruptcy Board of India, concluding the matter without costs. en-us Tue, 20 Oct 2020 00:00:00 +0530 Mon, 08 Mar 2021 19:21:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293909 The National Company Law Tribunal, Kolkata, admitted the Company Petition, initiating Corporate Insolvency Resolution Process against M/s. VSP Udyog Private Limited. The Resolution Plan of M/s. Amit Metaliks Limited was approved by the Committee of Creditors with 95.35% voting shares. After evaluating multiple plans, the revised Resolution Plan was approved, addressing financial proposals, upfront payments, and CIRP costs. The Tribunal found the Plan feasible and in stakeholders' best interest, directing its immediate implementation and cessation of the moratorium order. The Resolution Professional was tasked with transferring records to the Insolvency and Bankruptcy Board of India, concluding the matter without costs. Case-Laws Insolvency and Bankruptcy Tue, 20 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293909