The case involves the Corporate Insolvency Resolution Process (CIRP) of M/s Best Foods Limited, initiated by M/s Hajura Singh Bhim Singh under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. After admission on 02.02.2018, Mr. Atul Kumar Kansal was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vikram Bajaj. A resolution plan submitted by Maritime Trade Corporation (MTC) was not approved due to significant gaps and ambiguities. MTC subsequently withdrew its resolution plan. The Resolution Professional (RP) filed IA No. 412/2020 under Section 33(1)(a) of the IBC for liquidation, along with seeking withdrawal of CA No. 1077/2019, which was an application for additional time to complete the CIRP.
M/s Hajura Singh Bhim Singh initiated Corporate Insolvency Resolution Process (CIRP) against M/s Best Foods Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 02.02.2018. Mr. Atul Kumar Kansal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vikram Bajaj as the Resolution Professional (RP). Form G, inviting Expression of Interest (EOI), was published on 05.05.2018 and republished on 07.08.2018. Maritime Trade Corporation (MTC) submitted a resolution plan on 04.10.2018, which was discussed in the 7th Committee of Creditors (COC) meeting on 25.10.2018 but not approved due to gaps and ambiguities. MTC filed CA No. 603/2018, and the RP was directed to convene a COC meeting.
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Corporate Insolvency Resolution Process…
Mr. Atul Kumar Kansal…
The case involves the Corporate Insolvency Resolution Process (CIRP) of M/s Best Foods Limited, initiated by M/s Hajura Singh Bhim Singh under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. After admission on 02.02.2018, Mr. Atul Kumar Kansal was appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vikram Bajaj. A resolution plan submitted by Maritime Trade Corporation (MTC) was not approved due to significant gaps and ambiguities. MTC subsequently withdrew its resolution plan. The Resolution Professional (RP) filed IA No. 412/2020 under Section 33(1)(a) of the IBC for liquidation, along with seeking withdrawal of CA No. 1077/2019, which was an application for additional time to complete the CIRP.
M/s Hajura Singh Bhim Singh initiated Corporate Insolvency Resolution Process (CIRP) against M/s Best Foods Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 02.02.2018. Mr. Atul Kumar Kansal was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Vikram Bajaj as the Resolution Professional (RP). Form G, inviting Expression of Interest (EOI), was published on 05.05.2018 and republished on 07.08.2018. Maritime Trade Corporation (MTC) submitted a resolution plan on 04.10.2018, which was discussed in the 7th Committee of Creditors (COC) meeting on 25.10.2018 but not approved due to gaps and ambiguities. MTC filed CA No. 603/2018, and the RP was directed to convene a COC meeting.
…Corporate Insolvency Resolution Process…
Mr. Atul Kumar Kansal…