The case pertains to an application filed by the Resolution Professional under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, Cargo Planners Limited. The CIRP was initiated following an application under Section 7 of the Code by a financial creditor, which was admitted on 2019-08-08. Mr. Ashok Kumar Juneja was appointed as the Interim Resolution Professional (IRP). Public announcement was made, and a Committee of Creditors (CoC) was constituted. The CoC resolved to appoint Mrs. Deepika Bhugra Prasad as the Resolution Professional.
S. A. Consultants & Forwarders Pvt. Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Cargo Planners Limited. The CIRP was triggered by an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 2019-08-08, and Mr. Ashok Kumar Juneja was appointed as the Interim Resolution Professional (IRP). A public announcement was issued, and a Committee of Creditors (CoC) was formed. Mrs. Deepika Bhugra Prasad was appointed as the Resolution Professional. During the CIRP, an Expression of Interest (EOI) was issued, and only one EOI was received from Mr. Shikhar Chandra Jain. The CoC considered Mr. Jain's resolution plan, but it received only 3.6% votes in favor. The CoC then decided
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Application under…
Public announcement issued in 'The…
The case pertains to an application filed by the Resolution Professional under Section 33(1) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the liquidation of the Corporate Debtor, Cargo Planners Limited. The CIRP was initiated following an application under Section 7 of the Code by a financial creditor, which was admitted on 2019-08-08. Mr. Ashok Kumar Juneja was appointed as the Interim Resolution Professional (IRP). Public announcement was made, and a Committee of Creditors (CoC) was constituted. The CoC resolved to appoint Mrs. Deepika Bhugra Prasad as the Resolution Professional.
S. A. Consultants & Forwarders Pvt. Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Cargo Planners Limited. The CIRP was triggered by an application under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 2019-08-08, and Mr. Ashok Kumar Juneja was appointed as the Interim Resolution Professional (IRP). A public announcement was issued, and a Committee of Creditors (CoC) was formed. Mrs. Deepika Bhugra Prasad was appointed as the Resolution Professional. During the CIRP, an Expression of Interest (EOI) was issued, and only one EOI was received from Mr. Shikhar Chandra Jain. The CoC considered Mr. Jain's resolution plan, but it received only 3.6% votes in favor. The CoC then decided
…Application under…
Public announcement issued in 'The…