The case involves an application for approval of a resolution plan for Pala Decor Private Limited, the Corporate Debtor, submitted by the Successful Resolution Applicant (SRA), Ms. Geeta Jain. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by Induskleed Exports Private Limited, the Operational Creditor.
Induskleed Exports Private Limited filed a petition against Pala Decor Private Limited, leading to the initiation of CIRP.
Mr. Naveen Singal was initially appointed as the Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was constituted with Privy Capital Limited as the sole financial creditor.
Mr. Kailash Chand Gupta was appointed as the Resolution Professional (RP) but later sought to be relieved due to personal difficulties.
Ms. Nisha Malpani was appointed as the new Resolution Professional (RP).
The CoC approved the resolution plan submitted by Ms. Geeta Jain with a 100% voting share.
The resolution plan includes provisions for payment of CIRP costs, debts of operational creditors, and management of the Corporate Debtor.
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The case involves an application for approval of a resolution plan for Pala Decor Private Limited, the Corporate Debtor, submitted by the Successful Resolution Applicant (SRA), Ms. Geeta Jain. The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition by Induskleed Exports Private Limited, the Operational Creditor.
Induskleed Exports Private Limited filed a petition against Pala Decor Private Limited, leading to the initiation of CIRP.
Mr. Naveen Singal was initially appointed as the Interim Resolution Professional (IRP).
The Committee of Creditors (CoC) was constituted with Privy Capital Limited as the sole financial creditor.
Mr. Kailash Chand Gupta was appointed as the Resolution Professional (RP) but later sought to be relieved due to personal difficulties.
Ms. Nisha Malpani was appointed as the new Resolution Professional (RP).
The CoC approved the resolution plan submitted by Ms. Geeta Jain with a 100% voting share.
The resolution plan includes provisions for payment of CIRP costs, debts of operational creditors, and management of the Corporate Debtor.
…Date of Initia…
Date of Appoin…