The case involves an application (IA(IB) No. 392/KB/2020) filed in CP(IB) No. 1582/KB/2019 by P.M. Cold Storage Pvt. Ltd., a CoC member and Financial Creditor, seeking the replacement of the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of Goouksheer Farm Fresh Pvt. Ltd. The application was initially considered on 2020-03-12. The applicant sought an urgent hearing due to the COVID-19 pandemic and subsequent lockdown. The Corporate Debtor (CD) is undergoing CIRP since 2019-12-13, with Mr. Sanjeev Jhunjhunwala appointed as Interim Resolution Professional. The first CoC meeting was held on 2020-01-08, where the applicant was the sole member, holding 100% voting share. Subsequently, another financial creditor, New Hind Silk Pvt. Ltd,
…P.M. Cold Storage Pvt. Ltd., a financial creditor, initiated an application to replace the Resolution Professional (RP) in the CIRP of Goouksheer Farm Fresh Pvt. Ltd. The CIRP commenced on 2019-12-13, with Sanjeev Jhunjhunwala appointed as the Interim RP. Initially, P.M. Cold Storage was the sole member of the CoC, holding 100% voting share. However, New Hind Silk Pvt. Ltd. lodged a claim of Rs. 1.96 crore, which was admitted by the RP on 2020-03-12, reducing P.M. Cold Storage's voting share to 24.07%. The applicant argued that the RP's conduct was questionable, citing the admission of a claim based on a doubtful financial statement and a fabricated audit report. The applicant also claimed that the RP had not addressed their concerns regarding financial crisis and
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CIRP commenced for Goouksheer Farm Fresh…
The first CoC meeting was held, with P.M.…
The case involves an application (IA(IB) No. 392/KB/2020) filed in CP(IB) No. 1582/KB/2019 by P.M. Cold Storage Pvt. Ltd., a CoC member and Financial Creditor, seeking the replacement of the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of Goouksheer Farm Fresh Pvt. Ltd. The application was initially considered on 2020-03-12. The applicant sought an urgent hearing due to the COVID-19 pandemic and subsequent lockdown. The Corporate Debtor (CD) is undergoing CIRP since 2019-12-13, with Mr. Sanjeev Jhunjhunwala appointed as Interim Resolution Professional. The first CoC meeting was held on 2020-01-08, where the applicant was the sole member, holding 100% voting share. Subsequently, another financial creditor, New Hind Silk Pvt. Ltd,
…P.M. Cold Storage Pvt. Ltd., a financial creditor, initiated an application to replace the Resolution Professional (RP) in the CIRP of Goouksheer Farm Fresh Pvt. Ltd. The CIRP commenced on 2019-12-13, with Sanjeev Jhunjhunwala appointed as the Interim RP. Initially, P.M. Cold Storage was the sole member of the CoC, holding 100% voting share. However, New Hind Silk Pvt. Ltd. lodged a claim of Rs. 1.96 crore, which was admitted by the RP on 2020-03-12, reducing P.M. Cold Storage's voting share to 24.07%. The applicant argued that the RP's conduct was questionable, citing the admission of a claim based on a doubtful financial statement and a fabricated audit report. The applicant also claimed that the RP had not addressed their concerns regarding financial crisis and
…CIRP commenced for Goouksheer Farm Fresh…
The first CoC meeting was held, with P.M.…