V3 Engineers Private Limited

Corporate insolvency resolution — resolution plan approved · source: NCLT order, 21 Sep 2020

Sector Other Services Bench NCLT Bengaluru

Acquired by

Mr. Sanjay Punglia Along with Co-Applicants Viz., Mr. Abhishek Balar and Mr. Sudeep Dasani

Named in the NCLT plan-approval order.

Case record

at a glance

Admitted by the Bengaluru bench on a petition by an operational creditor. Current status: Resolved.

Admission to plan approval

6 mo

This case

NCLT Bengaluru median · 1 yr 9 mo

All India median · 1 yr 8 mo

Medians: time from admission to plan approval, over closed cases (n = 47 / 1,536). Pre-packs left out.

The company

Private limited company in Other Services, registered in Karnataka

Admitted claims

Under ₹10 Cr

Where the process stands

Admitted→Expression of Interest invited→Resolution plan approved

How cases like this ended

Other Services · 1,227 closed

Resolved 14% · Liquidation 48% · Withdrawn or closed 38%

NCLT Bengaluru · 256 closed

Resolved 18% · Liquidation 52% · Withdrawn or closed 30%

Resolved cases in this sector: creditors' typical haircut 78.7% n=163

Liquidations in this sector: typical recovery 0.7% of claims n=127

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Recovery, haircut & plan valueCommittee of creditorsFinancialsCompany & MCA recordTimeline & key dates · 2 tribunal ordersProfessionalsBenchmarks against this caseIntelligence note

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