The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Sunil Beriwal, an operational creditor, against Bhootnath Consultancy Private Limited, the corporate debtor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP). The application was initially admitted, and an Insolvency Resolution Professional (IRP), Ms. Sonu Jain, was appointed.
Sunil Beriwal, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bhootnath Consultancy Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 2018-05-07, and Ms. Sonu Jain was appointed as the Insolvency Resolution Professional (IRP). Despite public announcements and efforts to find a resolution applicant, none were identified. The IRP's efforts were deemed unsatisfactory by the court, and discrepancies were noted in the valuation report. The court directed the IRP to repeat the publication in a leading newspaper, but the IRP failed to comply. The CIRP period expired on 2018-11-02. The Committee of Creditors (CoC), with the
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CP(IB) No. 321…
The application under Section 9 was admitted,…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, filed by Sunil Beriwal, an operational creditor, against Bhootnath Consultancy Private Limited, the corporate debtor. The application sought to initiate the Corporate Insolvency Resolution Process (CIRP). The application was initially admitted, and an Insolvency Resolution Professional (IRP), Ms. Sonu Jain, was appointed.
Sunil Beriwal, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, against Bhootnath Consultancy Private Limited, the corporate debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 2018-05-07, and Ms. Sonu Jain was appointed as the Insolvency Resolution Professional (IRP). Despite public announcements and efforts to find a resolution applicant, none were identified. The IRP's efforts were deemed unsatisfactory by the court, and discrepancies were noted in the valuation report. The court directed the IRP to repeat the publication in a leading newspaper, but the IRP failed to comply. The CIRP period expired on 2018-11-02. The Committee of Creditors (CoC), with the
…CP(IB) No. 321…
The application under Section 9 was admitted,…