The case involves CA Nos. 21/2019 and 10/2019 in CP (IB) No. 93/Chd/Hry/2018, concerning the insolvency resolution of Jai Laxmi Lighting Industries Pvt. Ltd. M/s Paper Creations, an operational creditor, initiated the insolvency proceedings. Gyaninder Sadana, Director of the Suspended Board of Directors, filed CA No. 21/2019 seeking permission to submit a resolution plan under Section 240(A) of the Insolvency and Bankruptcy Code (IBC). Atul Kumar Kansal, the Resolution Professional, filed CA No. 10/2019 seeking a liquidation order against the corporate debtor. The Tribunal considered the applications and the submissions made by the parties.
M/s Paper Creations initiated insolvency proceedings against Jai Laxmi Lighting Industries Pvt. Ltd. via CP (IB) No. 93/Chd/Hry/2018. The Tribunal admitted the case on 26.04.2018, declaring a moratorium and appointing Mr. Amit Matta as the Interim Resolution Professional (IRP), later replaced by Mr. Raj Kumar Gupta, and then Atul Kumar Kansal. Gyaninder Sadana, Director of the Suspended Board, filed CA No. 21/2019 seeking permission to submit a resolution plan under Section 240(A) of the IBC, claiming the corporate debtor was an MSME. The last date for Expression of Interest (EOI) submission was extended to 15.10.2018. Two parties, Sampanaya Infraventures Private Limited and Gyaninder Sadana, submitted EOIs. The COC advised the Resolution Professional to invite
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Tribunal admitted CP(IB) No. 93/Chd/Hry/2018,…
The last date for submission of the Expression…
The case involves CA Nos. 21/2019 and 10/2019 in CP (IB) No. 93/Chd/Hry/2018, concerning the insolvency resolution of Jai Laxmi Lighting Industries Pvt. Ltd. M/s Paper Creations, an operational creditor, initiated the insolvency proceedings. Gyaninder Sadana, Director of the Suspended Board of Directors, filed CA No. 21/2019 seeking permission to submit a resolution plan under Section 240(A) of the Insolvency and Bankruptcy Code (IBC). Atul Kumar Kansal, the Resolution Professional, filed CA No. 10/2019 seeking a liquidation order against the corporate debtor. The Tribunal considered the applications and the submissions made by the parties.
M/s Paper Creations initiated insolvency proceedings against Jai Laxmi Lighting Industries Pvt. Ltd. via CP (IB) No. 93/Chd/Hry/2018. The Tribunal admitted the case on 26.04.2018, declaring a moratorium and appointing Mr. Amit Matta as the Interim Resolution Professional (IRP), later replaced by Mr. Raj Kumar Gupta, and then Atul Kumar Kansal. Gyaninder Sadana, Director of the Suspended Board, filed CA No. 21/2019 seeking permission to submit a resolution plan under Section 240(A) of the IBC, claiming the corporate debtor was an MSME. The last date for Expression of Interest (EOI) submission was extended to 15.10.2018. Two parties, Sampanaya Infraventures Private Limited and Gyaninder Sadana, submitted EOIs. The COC advised the Resolution Professional to invite
…Tribunal admitted CP(IB) No. 93/Chd/Hry/2018,…
The last date for submission of the Expression…