Yusen Logistics (India) Private Ltd., the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Diamond Shipping Company Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying an operational debt of Rs. 8,82,99,152/-. The authority admitted the corporate debtor into CIRP on 14.03.2019 and appointed CA Sonu Jain as the IRP. The IRP made a public announcement of CIRP and called for claims from creditors, verified the claims, and formed the CoC. The IRP's appointment was later confirmed.
Yusen Logistics (India) Private Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Diamond Shipping Company Limited, the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, due to a default in payment of an operational debt amounting to Rs. 8,82,99,152/-. The NCLT admitted the application on 14.03.2019 and appointed CA Sonu Jain as the Interim Resolution Professional (IRP). The IRP took steps to constitute the Committee of Creditors (CoC). However, no resolution plan was received within the stipulated CIRP period of 180 days. The CoC, in its last meeting, resolved to request the NCLT to pass an order for liquidation of the corporate debtor. The RP issued Form G dated 24th August, 2019, as
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The Insolvency and Bankruptcy Code, 2016, was…
The authority admitted the corporate debtor,…
Yusen Logistics (India) Private Ltd., the Operational Creditor, filed an application under Section 9 of the Insolvency & Bankruptcy Code, 2016, against Diamond Shipping Company Limited, the Corporate Debtor, to initiate the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor allegedly defaulted in paying an operational debt of Rs. 8,82,99,152/-. The authority admitted the corporate debtor into CIRP on 14.03.2019 and appointed CA Sonu Jain as the IRP. The IRP made a public announcement of CIRP and called for claims from creditors, verified the claims, and formed the CoC. The IRP's appointment was later confirmed.
Yusen Logistics (India) Private Ltd., an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Diamond Shipping Company Limited, the corporate debtor, under Section 9 of the Insolvency & Bankruptcy Code, 2016, due to a default in payment of an operational debt amounting to Rs. 8,82,99,152/-. The NCLT admitted the application on 14.03.2019 and appointed CA Sonu Jain as the Interim Resolution Professional (IRP). The IRP took steps to constitute the Committee of Creditors (CoC). However, no resolution plan was received within the stipulated CIRP period of 180 days. The CoC, in its last meeting, resolved to request the NCLT to pass an order for liquidation of the corporate debtor. The RP issued Form G dated 24th August, 2019, as
…The Insolvency and Bankruptcy Code, 2016, was…
The authority admitted the corporate debtor,…