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

| Updated on July 09, 2018 Published on July 09, 2018

The Sixth Meeting of the Committee of Creditors of the Corporate Debtor was held on Wednesday, 23 May 2018 at 3:00 PM at Axis Bank Limited, Corporate Banking Department, 3rd Floor, Shakespeare Sarani, AC Marketing Building, Kolkata-700017.

The outcome of the meeting is summarized as herein below:

l.Appro.val of appointment of Ernst and Young Restructuring LLP as the Process Advisor.
2.Approval of interim finance to be raised by the RP for running the corporate debtor and the expenses during the corporate insolvency resolution process.
3.Appointment of ELP Advocates and Solicitors as Legal Advisors to the RP.
4.To apply to the NCLT to seek extension of CIRP timeline by 90 days, as the COC had received interests through EOIs.
5.It was decided that timelines for resolution plan and submission thereof is to be finalized on receipt of the order extending the timeline for CIRP.

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

Source : BSE - www.bseindia.com

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Published on July 09, 2018
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