The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4(1) of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016, by Vivid Colours Pvt. Ltd., the applicant/financial creditor, to initiate corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the respondent/corporate debtor. The application was admitted on 7/8/2017. Mr. Vinay Talwar was appointed as the Resolution Professional (RP).
Vivid Colours Pvt. Ltd., as the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the corporate debtor. The application was initially admitted on 2017-08-07. Mr. Vinay Talwar was appointed as the Resolution Professional (RP). The RP convened a Committee of Creditors (COC) and submitted progress reports. The statutory period of 180 days for submitting a resolution plan expired on 2018-02-02. The COC, in a meeting held on 2018-08-01, unanimously decided to propose the liquidation of the corporate debtor due to a lack of interest from potential promoters. The RP submitted a report recommending liquidation under Section
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The application under…
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The case involves an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4(1) of the Insolvency and Bankruptcy (Application to Adjudication Authority) Rules, 2016, by Vivid Colours Pvt. Ltd., the applicant/financial creditor, to initiate corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the respondent/corporate debtor. The application was admitted on 7/8/2017. Mr. Vinay Talwar was appointed as the Resolution Professional (RP).
Vivid Colours Pvt. Ltd., as the financial creditor, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the corporate debtor. The application was initially admitted on 2017-08-07. Mr. Vinay Talwar was appointed as the Resolution Professional (RP). The RP convened a Committee of Creditors (COC) and submitted progress reports. The statutory period of 180 days for submitting a resolution plan expired on 2018-02-02. The COC, in a meeting held on 2018-08-01, unanimously decided to propose the liquidation of the corporate debtor due to a lack of interest from potential promoters. The RP submitted a report recommending liquidation under Section
…The application under…
The statutory limit of…