Resolution Plans2 April 2026 at 01:04 pm
Rama Paper Mills Ltd Receives 2 Resolution Plans Under CIRP with Possible Open Bidding
AI Summary
Rama Paper Mills Ltd, under Corporate Insolvency Resolution Process (CIRP), has received 2 resolution plans. The Resolution Professional received these plans from Ujala Renewables LLP (Consortium), Poddar Global Private Limited, and Dr. Mukesh Kumar Agarwal. The National Company Law Tribunal directed the Company to reconsider the resolution plan of the unsuccessful resolution applicant, allowing them to enhance their offer or consider open bidding. The last date for submission of resolution plans was extended to 27th March 2026.
Key Highlights
- Rama Paper Mills Ltd received 2 resolution plans under CIRP
- The Resolution Professional received plans from Ujala Renewables LLP, Poddar Global Private Limited, and Dr. Mukesh Kumar Agarwal
- The National Company Law Tribunal directed the Company to reconsider the resolution plan of the unsuccessful resolution applicant
- The Company was asked to allow open bidding to provide fair opportunity to all short-listed bidders
- The last date for submission of resolution plans was extended to 27th March 2026