What would be the total claim that would be paid to the Operational Creditors and the Statutory Authorities? What percentage of hair-cut would be borne by the above class?
CS Professional · Insolvency and Bankruptcy - Law and Practice · PYQS · December 2024
What would be the total claim that would be paid to the Operational Creditors and the Statutory Authorities? What percentage of hair-cut would be borne by the above class?
Answer & Explanation:
Total Claim of Operational and Statutory Authorities was ₹127 Crores. The total amount settled to them was ₹130 Crores - (₹81 Crores + ₹18 Crores + ₹15 Crores + ₹3.3 Crores) = ₹12.7 Crores. ₹127 Crores = 10% is the amount settled and 90% is the amount of Hair Cut given to a class of operational creditors and statutory authority.
Topics: Resolution Process
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