The case pertains to an application filed by the Resolution Professional (RP) under Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking sanction of a resolution plan for M/s. Ganeshom Cereals Private Limited, the Corporate Debtor. The insolvency petition was filed by the Financial Creditor, Allahabad Bank, under Section 7 of the Code, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following an order dated 13.12.2018. An Interim Resolution Professional (IRP), Mr. Bhupesh Gupta, was appointed, who then issued a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, comprising Punjab National Bank and Allahabad Bank. The RP appointed valuers to determine the
…Allahabad Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Ganeshom Cereals Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to the corporate debtor's default. The CIRP commenced on 13.12.2018. Bhupesh Gupta was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Vivek Kumar Arora. A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of two financial creditors: Punjab National Bank and Allahabad Bank. The IRP appointed valuers to assess the liquidation value of the corporate debtor's assets. The CoC, in its meeting on 25.01.2019, decided
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Corporate Insolvency Resolution Process (CIRP)…
Mr. Bhupesh Gupta…
The case pertains to an application filed by the Resolution Professional (RP) under Section 31 of the Insolvency and Bankruptcy Code, 2016, seeking sanction of a resolution plan for M/s. Ganeshom Cereals Private Limited, the Corporate Debtor. The insolvency petition was filed by the Financial Creditor, Allahabad Bank, under Section 7 of the Code, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated following an order dated 13.12.2018. An Interim Resolution Professional (IRP), Mr. Bhupesh Gupta, was appointed, who then issued a public announcement inviting claims from creditors. The Committee of Creditors (CoC) was constituted, comprising Punjab National Bank and Allahabad Bank. The RP appointed valuers to determine the
…Allahabad Bank, a financial creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Ganeshom Cereals Private Limited, the corporate debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was triggered due to the corporate debtor's default. The CIRP commenced on 13.12.2018. Bhupesh Gupta was initially appointed as the Interim Resolution Professional (IRP) and later replaced by Vivek Kumar Arora. A public announcement was made to invite claims from creditors. The Committee of Creditors (CoC) was formed, consisting of two financial creditors: Punjab National Bank and Allahabad Bank. The IRP appointed valuers to assess the liquidation value of the corporate debtor's assets. The CoC, in its meeting on 25.01.2019, decided
…Corporate Insolvency Resolution Process (CIRP)…
Mr. Bhupesh Gupta…