Approval of Resolution Plan - Iskrupa Mall Management Company Private Limited [IA(IBC)(Plan)/40(MB)2026 in C.P. (IB)/839(MB)2022] PDF
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Official publication date
The present Application is filed by Resolution Professional Aegis Resolution Services Private Limited through Mr. Avil Menezes (“ Applicant/Resolution Professional/RP ”) under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (“ Code ”), read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 for seeking approval of the Resolution Plan dated 14.02.2026 (“ Resolution Plan ”) for Iskrupa Mall Management Company Private Limited (“ Corporate Debtor ”) submitted by Marutee Finsec (“ Respondent/SRA ”) which was placed before the members of the Committee of Creditors (“ CoC ”) in the 15...
Who this is for
The Resolution Plan contemplates that “ The Resolution Applicant (RA)/its SPV/Nominee/ Affiliate shall have the liberty to merge into the Corporate Debtor (CD) through a reverse merger, forward merger, or to demerge any business line of the Corporate Debtor.
Dates and schedule
The RP issued Letter of Intent (LOI) on 08.05.2026 and informed the Successful Resolution Applicant (SRA) to submit a Performance Bank Guarantee within the proposed extended timeline i.e. 15 days which was submitted on 22.05.2026.
Important to know
Thus, the Resolution Professional filed the present application for approval of that Resolution Plan under Sections 30(6) and 31 of the Code. Upon conclusion of the voting process on 07.05.2026, the CoC, with 83.05% voting share comprising of Central Bank of India (70.51%) and IFCI Limited (12.54%), approved the resolution plan whereas the Axis Bank Limited, holding 16.95% voting share, voted in dissent. Upon each realisation in respect of the Existing Investments, whether in whole or in part, the Resolution Applicant shall pay over to the Financial Creditors, for distribution in such manner as the Committee of Creditors may determine, an amount equal to seventy-five per cent (75%) of the gross recovery so received.
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Source & history
Prepared automatically from the official source; AI may help select excerpts. Individual human review is not implied. Check the original for complete details.
Source last read: 8 Oct 2026