IA 309 of 2018 was filed under Section 33(2) of the IB Code, 2016, seeking an order for liquidation of the Corporate Debtor Company, J.R. Diamonds Pvt. Ltd. The Committee of Creditors, composed of Operational Creditors, supported the resolution for liquidation. The Resolution Professional (RP) reported a lack of cooperation from the suspended management, the company's limited assets, and the expectation of an income tax refund. An attempt to find a resolution applicant by inviting expression of interest dated 2018-06-21 in Form G was unsuccessful.
IA 309 of 2018 was filed seeking liquidation of J.R. Diamonds Pvt. Ltd. under Section 33(2) of the IB Code, 2016. The Committee of Creditors, consisting of Operational Creditors, supported the liquidation resolution passed on 2018-08-07. The RP, Vinod Tarachand Agarwal, reported a lack of cooperation from the suspended management and limited assets. An attempt to find a resolution applicant through an expression of interest dated 2018-06-21 was unsuccessful. The Committee of Creditors had three members: Kaushar Gems, Su-raj Diamond Industries Pvt. Ltd., and SJR Commodities & Consultancies Pvt. Ltd. The Committee of Creditors approved the resolution with 100% approval and recommended the RP to be continued as liquidator. The company expected some refund of income
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The Committee of Creditors passed a resolution…
The RP and the Committee of Creditors invited…
IA 309 of 2018 was filed under Section 33(2) of the IB Code, 2016, seeking an order for liquidation of the Corporate Debtor Company, J.R. Diamonds Pvt. Ltd. The Committee of Creditors, composed of Operational Creditors, supported the resolution for liquidation. The Resolution Professional (RP) reported a lack of cooperation from the suspended management, the company's limited assets, and the expectation of an income tax refund. An attempt to find a resolution applicant by inviting expression of interest dated 2018-06-21 in Form G was unsuccessful.
IA 309 of 2018 was filed seeking liquidation of J.R. Diamonds Pvt. Ltd. under Section 33(2) of the IB Code, 2016. The Committee of Creditors, consisting of Operational Creditors, supported the liquidation resolution passed on 2018-08-07. The RP, Vinod Tarachand Agarwal, reported a lack of cooperation from the suspended management and limited assets. An attempt to find a resolution applicant through an expression of interest dated 2018-06-21 was unsuccessful. The Committee of Creditors had three members: Kaushar Gems, Su-raj Diamond Industries Pvt. Ltd., and SJR Commodities & Consultancies Pvt. Ltd. The Committee of Creditors approved the resolution with 100% approval and recommended the RP to be continued as liquidator. The company expected some refund of income
…The Committee of Creditors passed a resolution…
The RP and the Committee of Creditors invited…