Jalaram Cotton & Proteins Ltd. (Corporate Debtor) filed a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC), leading to the commencement of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) held its third meeting on March 30, 2018, and resolved to recommend liquidation due to the absence of any resolution plan. The 180-day period for the CIRP was nearing completion, set to end on May 14, 2018. The resolution professional filed an application seeking an order for the liquidation of the Corporate Debtor. The COC members unanimously (100% voting) favored liquidation. The Adjudicating Authority considered the petition and the records annexed.

Jalaram Cotton & Proteins Ltd. (Corporate Debtor) filed a petition under Section 10 of the Insolvency and Bankruptcy Code (IBC), leading to the commencement of the Corporate Insolvency Resolution Process (CIRP). An Interim Resolution Professional (IRP) was appointed. The Committee of Creditors (COC) held its third meeting on March 30, 2018, and resolved to recommend liquidation due to the absence of any resolution plan. The 180-day period for the CIRP was nearing completion, set to end on May 14, 2018. The resolution professional filed an application seeking an order for the liquidation of the Corporate Debtor. The COC members unanimously (100% voting) favored liquidation. The Adjudicating Authority considered the petition and the records annexed.