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Mount Shivalik Industries Ltd. - Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

| Updated on June 07, 2019 Published on June 07, 2019


This is to inform you that the 19th Meeting of Committee of Creditors (CoC) was held on 04th June, 2019.

In the said meeting the Resolution Plan of H1 qualified Resolution Applicant i.e. Som Distilleries Pvt. Ltd. was put to vote by COC members and the same was not approved by 100% voting share.

The next resolution plan which complied with the conditions of Section 30(2) of the Code being H2 i.e. Kals Distilleries Pvt Ltd was put to vote. The Resolution Plan of H2 qualified Resolution Applicant i.e. Kals Distilleries Pvt. Ltd. was approved by 100% voting share of COC members under Section 30(4) of the Insolvency and Bankruptcy Code, 2016.

Further the Committee of Creditors instructed the Resolution Professional to file an appropriate application under Section 31 of the Insolvency and Bankruptcy Code, 2016 before the Adjudicating Authority for approval of the resolution plan of Kals Distilleries Pvt Ltd.

Kindly take the above on your records.

Pdf Link: Mount Shivalik Industries Ltd. - Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

Source : BSE - www.bseindia.com

Published on June 07, 2019
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