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ARTICLE · 18 SEPTEMBER 2017

Analysis Of First Resolution Plan Approved By NCLT And The Objection Raised By Creditor

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The National Company Law Tribunal, Hyderabad (hereinafter referred as "Adjudicating Authority"), after hearing to all the concerned parties on 23.01.2017

IndiaInsolvency/Bankruptcy/Re-Structuring
Manoj Singh
Manoj Singh
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The National Company Law Tribunal, Hyderabad (hereinafter referred as "Adjudicating Authority"), after hearing to all the concerned parties on 23.01.20171 admitted the application filed by Synergies-Dooray Automative Limited (hereinafter referred as "Corporate Debtor") under section 10 of the Insolvency and Bankruptcy Code (hereinafter referred as "the Code") and had appointed Ms. Mamta Binani as an Interim Resolution Professional (hereinafter referred as "IRP"). Pursuant to the order of the Adjudicating Authority, the IRP issued the public announcement and invited claims from the creditors in order to constitute the Committee of Creditors. After collation of the claims, the first meeting of Committee of Creditor was called on 22.02.2017 in which the IRP was appointed as Resolution Professional (hereinafter referred as "RP"). Thereafter, list of the creditors was forwarded to the Adjudicating Authority reflecting the percentage of exposure and voting rights (as

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