The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Ambey Constructech Private Limited. The petition was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2018-02-13, and a moratorium was declared under Section 14 of the Code. Ajay Kumar Jain was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted, with Punjab National Bank as the sole secured Financial Creditor. The IRP was later replaced by Sumat Kumar Gupta as the Resolution Professional (RP). The CIRP period was extended by 90 days on 2018-08-07. The resolution plan was submitted by Shri Puneet Garg and Shri Harvinder Pal Singla, Directors of the Corporate Debtor, and approved by the CoC with
…Ambey Constructech Private Limited underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated following a petition under Section 10 of the Code, which was admitted on 2018-02-13. A moratorium was imposed under Section 14. Punjab National Bank was the sole financial creditor. Ajay Kumar Jain was initially appointed as the Interim Resolution Professional (IRP), later replaced by Sumat Kumar Gupta as the Resolution Professional (RP). A resolution plan was submitted by Puneet Garg and Harvinder Pal Singla, suspended Directors of the Corporate Debtor. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan proposed a payment of ₹645 lacs to the financial
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Petition under Section…
Shri Ajay Kumar Jain…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) of Ambey Constructech Private Limited. The petition was filed under Section 10 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 2018-02-13, and a moratorium was declared under Section 14 of the Code. Ajay Kumar Jain was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC) was constituted, with Punjab National Bank as the sole secured Financial Creditor. The IRP was later replaced by Sumat Kumar Gupta as the Resolution Professional (RP). The CIRP period was extended by 90 days on 2018-08-07. The resolution plan was submitted by Shri Puneet Garg and Shri Harvinder Pal Singla, Directors of the Corporate Debtor, and approved by the CoC with
…Ambey Constructech Private Limited underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated following a petition under Section 10 of the Code, which was admitted on 2018-02-13. A moratorium was imposed under Section 14. Punjab National Bank was the sole financial creditor. Ajay Kumar Jain was initially appointed as the Interim Resolution Professional (IRP), later replaced by Sumat Kumar Gupta as the Resolution Professional (RP). A resolution plan was submitted by Puneet Garg and Harvinder Pal Singla, suspended Directors of the Corporate Debtor. The Committee of Creditors (CoC) approved the resolution plan with 100% voting share. The resolution plan proposed a payment of ₹645 lacs to the financial
…Petition under Section…
Shri Ajay Kumar Jain…