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We are pleased to share that Kochhar & Co. successfully represented CMP Industrie S.R.L., an Italian company engaged in the manufacture of toys for food companies and plastic promotional items, before the Hon’ble National Company Law Tribunal, Mumbai Bench, in CMP Industrie S.R.L. (Applicant/ Financial Creditor) v. CMP Euro Technoplast Pvt. Ltd. (Respondent/ Corporate Debtor) and obtained a favourable order of admission under Section 7 under the Insolvency and Bankruptcy Code, 2016 (IBC) against CMP Euro Technoplast Pvt. Ltd., a subsidiary of CMP Industrie S.R.L.

The Section 7 proceedings arose against the backdrop of long-standing disputes and proceedings across multiple forums between CMP Industrie S.R.L. and one of the shareholders of its Indian subsidiary.

Kochhar & Co. played a pivotal role in formulating and implementing a comprehensive corporate and legal strategy to safeguard and advance the interests of CMP Industrie S.R.L. in India, given the complex issues between the shareholders. The firm’s engagement extended beyond the insolvency proceedings and involved advising the Italian company on the restructuring of the board, securing effective control over the Indian subsidiary, addressing statutory and regulatory compliances, and defending the Italian company in several long-standing disputes.

Kochhar & Co. represented CMP Industrie S.R.L. in multiple interconnected proceedings across various forums, including proceedings concerning oppression and mismanagement, specific relief, mediation proceedings pursuant to the directions of the Hon’ble Bombay High Court, and insolvency proceedings before the NCLT. The firm represented the Italian company before the Hon’ble Bombay High Court, NCLT Mumbai and NCLT Delhi, ensuring a coordinated approach to the various legal and corporate issues safeguarding the interests of the Italian company.

Following sustained efforts and strategic legal intervention by Kochhar & Co., the Hon’ble Bench of NCLT Mumbai, comprising Justice Nilesh Sharma and Justice Sameer Kakar, admitted the application filed by under Section 7 of the IBC and ordered the commencement of the Corporate Insolvency Resolution Process (CIRP) against CMP Euro Technoplast Pvt. Ltd.

The Kochhar & Co. team was led by Sharmil Bhushan, Partner and assisted by Senior Associates – Aanchal Gujrani, Digant Bhatt and Yash Pitroda.