American Express Banking Corporation initiated Corporate Insolvency Resolution Process (CIRP) against Fourth Dimension Solutions Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 25.07.2019, and Mr. Jaswant Singh was appointed as the Interim Resolution Professional (IRP). Subsequently, Ms. Pooja Bahry was appointed as the Resolution Professional (RP). The resolution plan submitted by Linkstar Infosys Pvt Ltd and Mr. Dhaval Jitendra Kumar Mistry was approved by the Committee of Creditors (CoC) with 100% voting share.
American Express Banking Corporation, a financial creditor, initiated CIRP against Fourth Dimension Solutions Limited, the corporate debtor, under Section 7 of the IBC, 2016. The application was admitted on 25.07.2019. Jaswant Singh was appointed as the Interim Resolution Professional (IRP), followed by Pooja Bahry as the Resolution Professional (RP). A Committee of Creditors (CoC) was formed, comprising several financial creditors, including American Express Banking Corporation with a 40.46% voting share. There was a lack of consensus among the CoC members regarding the appointment of the RP, leading to delays. The RP published Form 'G' on 15.01.2020, inviting Expressions of Interest (EOI), with a submission deadline of 30.01.2020. Only one resolution plan was
…Sign in to view the parties.
Application under Section 7 of IBC admitted;…
Interim Resolution…
American Express Banking Corporation initiated Corporate Insolvency Resolution Process (CIRP) against Fourth Dimension Solutions Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted on 25.07.2019, and Mr. Jaswant Singh was appointed as the Interim Resolution Professional (IRP). Subsequently, Ms. Pooja Bahry was appointed as the Resolution Professional (RP). The resolution plan submitted by Linkstar Infosys Pvt Ltd and Mr. Dhaval Jitendra Kumar Mistry was approved by the Committee of Creditors (CoC) with 100% voting share.
American Express Banking Corporation, a financial creditor, initiated CIRP against Fourth Dimension Solutions Limited, the corporate debtor, under Section 7 of the IBC, 2016. The application was admitted on 25.07.2019. Jaswant Singh was appointed as the Interim Resolution Professional (IRP), followed by Pooja Bahry as the Resolution Professional (RP). A Committee of Creditors (CoC) was formed, comprising several financial creditors, including American Express Banking Corporation with a 40.46% voting share. There was a lack of consensus among the CoC members regarding the appointment of the RP, leading to delays. The RP published Form 'G' on 15.01.2020, inviting Expressions of Interest (EOI), with a submission deadline of 30.01.2020. Only one resolution plan was
…Application under Section 7 of IBC admitted;…
Interim Resolution…