The case pertains to IA No. 560/2020 in CP (IB) No. 153/Chd/Pb/2019, an admitted matter under Section 33(1) & (2) of the Insolvency and Bankruptcy Code, 2016. Parmod Sharma, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Emsons Organics Limited. The CIRP was admitted on 27.09.2019, and Ms. Taruna Goel was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Prem Chand Goyal replaced Ms. Goel as RP. Form-G was published on 11.12.2019, but no Expression of Interest (EOI) was received. The Adjudicating Authority granted an extension of the CIRP period. Despite receiving EOIs, no resolution plan was received. Consequently, the Committee of Creditors (COC) resolved to liquidate the corporate debtor.
Parmod Sharma, an Operational Creditor, initiated CIRP against Emsons Organics Limited. The CIRP was admitted on 27.09.2019. Ms. Taruna Goel was initially appointed as IRP, later replaced by Mr. Prem Chand Goyal as RP on 30.10.2019. Form-G was published on 11.12.2019, but no Expression of Interest (EOI) was received initially. The Adjudicating Authority extended the CIRP period on 18.03.2020. EOIs were received, but no resolution plan materialized. The COC resolved to liquidate the corporate debtor in its 5th meeting. The application for liquidation was filed by the RP on 27.08.2020. The COC approved the estimated liquidation expenses of ₹13,85,000. Mr. Prem Chand Goyal was appointed as the Liquidator. The Adjudicating Authority considered the submissions and records
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Corporate Insolvency Resolution Process…
Application under…
The case pertains to IA No. 560/2020 in CP (IB) No. 153/Chd/Pb/2019, an admitted matter under Section 33(1) & (2) of the Insolvency and Bankruptcy Code, 2016. Parmod Sharma, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Emsons Organics Limited. The CIRP was admitted on 27.09.2019, and Ms. Taruna Goel was appointed as the Interim Resolution Professional (IRP). Subsequently, Mr. Prem Chand Goyal replaced Ms. Goel as RP. Form-G was published on 11.12.2019, but no Expression of Interest (EOI) was received. The Adjudicating Authority granted an extension of the CIRP period. Despite receiving EOIs, no resolution plan was received. Consequently, the Committee of Creditors (COC) resolved to liquidate the corporate debtor.
Parmod Sharma, an Operational Creditor, initiated CIRP against Emsons Organics Limited. The CIRP was admitted on 27.09.2019. Ms. Taruna Goel was initially appointed as IRP, later replaced by Mr. Prem Chand Goyal as RP on 30.10.2019. Form-G was published on 11.12.2019, but no Expression of Interest (EOI) was received initially. The Adjudicating Authority extended the CIRP period on 18.03.2020. EOIs were received, but no resolution plan materialized. The COC resolved to liquidate the corporate debtor in its 5th meeting. The application for liquidation was filed by the RP on 27.08.2020. The COC approved the estimated liquidation expenses of ₹13,85,000. Mr. Prem Chand Goyal was appointed as the Liquidator. The Adjudicating Authority considered the submissions and records
…Corporate Insolvency Resolution Process…
Application under…