The case involves an application (MA 1614/2018) filed by the Resolution Professional (RP) of the Corporate Debtor, Jejani Pulp and Paper Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (I&B Code), seeking an order for liquidation. The Corporate Insolvency Resolution Process (CIRP) was initiated after the application under section 7 of I&B Code filed by the Financial Creditor, JM Financial Asset Reconstruction Company Limited, was admitted on 2018-06-22. The RP was appointed as Interim Resolution Professional to conduct the CIRP, and a Committee of Creditors (COC) was constituted.
JM Financial Asset Reconstruction Company Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Jejani Pulp and Paper Private Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 2018-06-22. Mr. Prasad Kamlakar Dharap was appointed as the Resolution Professional (RP). The RP appointed two valuers, and their reports were submitted on 2018-08-09 and 2018-10-08. The RP admitted claims amounting to ₹16,99,74,205/- out of the total claim of ₹17,22,14,403/- submitted by the Financial Creditors. As per the valuation report of A.C. Belekar, the liquidation value was ₹12,00,00,000/- and the fair market value was ₹15,00,00,000/-. As per the valuation
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Application under section 7 of I&B Code filed…
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The case involves an application (MA 1614/2018) filed by the Resolution Professional (RP) of the Corporate Debtor, Jejani Pulp and Paper Private Limited, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016 (I&B Code), seeking an order for liquidation. The Corporate Insolvency Resolution Process (CIRP) was initiated after the application under section 7 of I&B Code filed by the Financial Creditor, JM Financial Asset Reconstruction Company Limited, was admitted on 2018-06-22. The RP was appointed as Interim Resolution Professional to conduct the CIRP, and a Committee of Creditors (COC) was constituted.
JM Financial Asset Reconstruction Company Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (I&B Code) against Jejani Pulp and Paper Private Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 2018-06-22. Mr. Prasad Kamlakar Dharap was appointed as the Resolution Professional (RP). The RP appointed two valuers, and their reports were submitted on 2018-08-09 and 2018-10-08. The RP admitted claims amounting to ₹16,99,74,205/- out of the total claim of ₹17,22,14,403/- submitted by the Financial Creditors. As per the valuation report of A.C. Belekar, the liquidation value was ₹12,00,00,000/- and the fair market value was ₹15,00,00,000/-. As per the valuation
…Application under section 7 of I&B Code filed…
Applicant appo…
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