Rathi Graphic Technologies Limited (RGTL) was incorporated in December 1991 with an object to manufacture Toners and Developers. The manufacturing facilities are at Bhiwadi an industrial town of Rajasthan which is around 70 km. away from Delhi. The infrastructure includes own land and integrated Building/shed with modern facilities, Plants & Machinery and modern systems in place. The overall area is 9940 square feet of which only 5325 square feet is under regular use as on date.
However, an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) read with Rule 4 of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 was filed before the Hon’ble National Company Law Tribunal (NCLT) at Allahabad, for initiation of Corporate Insolvency Resolution Process (CIRP) in the matter of M/s. Rathi Graphic Technologies Ltd.
The said application for CIRP has since been admitted by the Hon’ble Adjudicating Authority vide order dated 03/02/2020 and consequent upon such admission, the CIRP has commenced.
Further, during the Corporate Insolvency Resolution Process publication of Form G – Inviting Expression of Interest was made, wherein M/s. M/s Nikunj Udyog (A unit of Surbhika Steels Private Limited) had submitted the Resolution Plan to the COC Member.
That, on December 16, 2020 the Plan submitted by you was approved with 100% votes by Committee of Creditors. Later on, an Application was filed with the Hon’ble National Company Law Tribunal in order to get the said Resolution Plan approved.
That, on July 27, 2023 an Order was Pronounced by the Hon’ble National Company Law Tribunal in IA 31/2021 in CP(IB) No. 325/ALD/2019 wherein the Resolution Plan submitted Nikunj Udhyog (A unit of Surbhika Steels Private Limited) was approved.
The Successful Resolution Applicant (“hereinafter referred as SRA”) has made the payments as per Approved Resolution Plan to all the financial creditors and operational creditors.
Since implementation has been completed, Nikunj Udyog (Unit of Surbhika Steel Pvt Ltd) the Successful Resolution Applicant has taken over the management and control of the Company i.e. Rathi Graphic Technologies Limited.