The case involves an application filed under Section 7 of the Insolvency & 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, for initiating corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the respondent/corporate debtor. The application was admitted on 7/8/2017. The resolution professional was appointed and convened Committee of Creditors (COC) meetings, submitting progress reports. However, no resolution plan was successfully submitted within the statutory period.
Vivid Colours Pvt. Ltd., as the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the corporate debtor. The application was admitted on 2017-08-07. Mr. Vinay Talwar was appointed as the Resolution Professional (RP). The RP convened Committee of Creditors (COC) meetings and submitted progress reports. The statutory period of 180 days for submission of a resolution plan expired on 2018-02-02. The RP failed to secure a resolution plan. The COC unanimously decided for liquidation on 2018-08-01 due to lack of interest from promoters. The RP submitted a fourth progress report recommending liquidation under Section 33(2) of
…Sign in to view the parties.
The application under…
Mr. Vinay Talwar was…
The case involves an application filed under Section 7 of the Insolvency & 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, for initiating corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the respondent/corporate debtor. The application was admitted on 7/8/2017. The resolution professional was appointed and convened Committee of Creditors (COC) meetings, submitting progress reports. However, no resolution plan was successfully submitted within the statutory period.
Vivid Colours Pvt. Ltd., as the financial creditor, filed an application under Section 7 of the Insolvency & Bankruptcy Code, 2016, to initiate the corporate insolvency resolution process against Jenson & Nicholson (India) Ltd., the corporate debtor. The application was admitted on 2017-08-07. Mr. Vinay Talwar was appointed as the Resolution Professional (RP). The RP convened Committee of Creditors (COC) meetings and submitted progress reports. The statutory period of 180 days for submission of a resolution plan expired on 2018-02-02. The RP failed to secure a resolution plan. The COC unanimously decided for liquidation on 2018-08-01 due to lack of interest from promoters. The RP submitted a fourth progress report recommending liquidation under Section 33(2) of
…The application under…
Mr. Vinay Talwar was…