The case involves an application filed by Pushkar Impex Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Dimond Polymers Private Limited, the Corporate Debtor. The application was admitted by the Adjudicating Authority. An Interim Resolution Professional (IRP), Mr. Jitendra Lohia, was appointed, and his appointment was later confirmed as a Resolution Professional (RP).
Pushkar Impex Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Dimond Polymers Private Limited, the corporate debtor. The application was admitted, and Jitendra Lohia was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP convened four meetings of the Committee of Creditors (CoC) and filed five progress reports. Despite public announcements, no resolution plan was submitted. The corporate debtor had no business activities since July 2016, and its only assets were its factory premises. The RP recommended liquidation under Section 33 of the IBC. The time limit for
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The instant application was admitted by this…
Mr. Jitendra Lohia's appointment was…
The case involves an application filed by Pushkar Impex Private Limited, an Operational Creditor, under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Dimond Polymers Private Limited, the Corporate Debtor. The application was admitted by the Adjudicating Authority. An Interim Resolution Professional (IRP), Mr. Jitendra Lohia, was appointed, and his appointment was later confirmed as a Resolution Professional (RP).
Pushkar Impex Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate a Corporate Insolvency Resolution Process (CIRP) against Dimond Polymers Private Limited, the corporate debtor. The application was admitted, and Jitendra Lohia was appointed as the Interim Resolution Professional (IRP), later confirmed as the Resolution Professional (RP). The RP convened four meetings of the Committee of Creditors (CoC) and filed five progress reports. Despite public announcements, no resolution plan was submitted. The corporate debtor had no business activities since July 2016, and its only assets were its factory premises. The RP recommended liquidation under Section 33 of the IBC. The time limit for
…The instant application was admitted by this…
Mr. Jitendra Lohia's appointment was…