Notice of Meetingof Committee of Creditors of Raj Oil Mills Limited

Notice of Meetingof Committee of Creditors of Raj Oil Mills Limited

NOTICE OF MEETINGOF COMMITTEE OF CREDITORS OF RAJ OIL MILLS LIMITED

NOTICE is hereby given that the First Meeting of the Committee of Creditors of Raj Oil Mills Limited will be held at the Registered Office of the Company at 224, Bellasis Road, Mumbai-400008 at 11.00 a.m. on Wednesday, 9th August, 2017 , to transact the following business as specified in the enclosed Agenda.

The Participants may also attend the aforementioned meeting through video conferencing or other audio and visual means. If any participant desires to attend the aforementioned Meeting through such means, may kindly follow the process mentioned in Note 1 and also inform the undersigned at least 48 hours before the time fixed for the meeting. It is to be noted that the participants attend the aforementioned Meeting through video conferencing would also be considered as part of quorum for the aforementioned meeting and a roll call will be carried out as per Regulation 24 (2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations,2016 for such Participants.

You are requested to kindly make it convenient to attend the Meeting.

U. V. G. Nayak

Interim Resolution Professional

Raj Oil Mills Limited (Under Corporate Insolvency Resolution Process)

E-mail ID-:

Mobile No: 98696 37407

IBBI Registration No: IBBI/IPA-001/IP- P00019/2016-2017/10043

Date: 2nd August, 2017

Place: Mumbai

Encl; Agenda and notes to Agenda forthe First Meeting of Committeeof Creditors

Agendafor the Firstt Meeting of the Committee of Creditors of Raj Oil Mills Limited constituted in terms of the provisions of Section 21 of the Insolvency andBankruptcy Code, 2016

Date of the Meeting / Wednesday, 9th August, 2017
Venue of the Meeting / Registered Office of the Company at
224, Bellasis Road, Mumbai-400008.
Time of the Meeting / 11.00 a.m.
Sr. No. / Agenda Item
A. List of matters to be discussed/noted
1 / The Interim Resolution Personnel to take the Chair
2 / To ascertain the quorum for the Meeting
3 / To take note of the action taken by the Interim Resolution Professional
4 / To take note of the List of Creditors as on 10th July, 2017 prepared by the Interim Resolution Professional
5 / To take note and approve the possession, control and custody of the assets of Corporate Debtor.
6 / To take note of the Initial Information Memorandum submitted by the Interim Resolution Professional containing matters referred to in Regulation 36 (1) (a) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and matters incidental thereto
7 / To approve the Financial Statements of the Corporate Debtor from the date of assuming charge till the date of the meeting.
8 / To take a view about initiation of Resolution Plan after Resolution Professional is appointed and time Resolution Plan thereon
B.List of matters to be discussed and voted
9 / To take, note and approve the remuneration and expenses on or by the Interim Resolution Personnel including that on professional advisors which shall constitute Corporate Insolvency Resolution Process costs, till the date of the Meeting.
10 / To appoint a Resolution Professional and to fix the remuneration and expenses which shall constitute Corporate Insolvency Resolution Process costs. Interim Resolution Professional being eligible offers himself for appointment as Resolution Personnel
11 / To fix a limit upto which the Resolution Professional , without the permission of the Committee of Creditors , is entitled to initiate a debit transaction with the financial institution /banks maintaining accounts of the Corporate Debtor
C. Any other matters with the permission of the Chair.
12 / Any other matters.

UVG.Nayak

Interim Resolution Professional

Raj Oil Mills Limited (Under Corporate Insolvency Resolution Process)

E-mail ID-:

Mobile No: 98696 37407

IBBI Registration No: IBBI/IPA-001/IP- P00019/2016-2017/10043

Date: 2nd August, 2017

Place: Mumbai

Notes:

  1. In terms of Regulation 13 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations 2016,(“IBBI Regulations”)the list of creditors is available for inspection with prior notice. It is also displayed on the official website of the corporate debtor.
  2. Any Participant may attend the Meeting either in person or through an Authorized Representative. ThoseParticipants who would desire to depute authorised representative shall inform the InsolvencyProfessional atleast48 hours in advance of the Meeting of the identity of the authorized representative who will attend and vote at the meeting on its behalf. The Authorized Representative is requested to carry proof of Identity for verification purpose
  3. A participant being a Financial Creditor shall only be entitled to vote at the meeting or by electronic means. The Director of the Corporate Debtor and one representative of the operational creditor(s), if any attending the meeting shall not have any right to vote at the meeting and shall not form a part of the quorum. A financial creditor being a related party of a corporate debtor shall not have any right of representation, participation or voting in the meeting.
  4. At a conclusion of voting at the meeting, the decision taken on each of the items along with the names of the members of the Committee of financial Creditors (COC) who voted for and against the decision, or abstained from voting will be announced
  5. As per regulation 21(3) (b) of IBBI Regulations a vote of the members of the COC shall not be taken at the meeting unless ALL members are present at the meeting.
  6. In terms of Regulation 25(5) of IBBI Regulations if ALL members of COC are not present at the meeting, then the vote of the members of the Committee shall not be taken and the voting will be done through electronic means provided in the manner laid down in that Regulation. The e-Voting will be kept openfor twenty-fours from the circulation of the minutes of the meeting ofthe Creditors by electronic means to all the members of the Committee.
  7. The Information Memorandum would be given to the Members of the Committee of Creditors only after the receipt of the undertaking duly signed by the member regarding confidentiality of the informationand the use of such information as per the enclosed format.
Top View