Light Speed Trade & Consultancy Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Jinprabhu Infrastructure Developments Limited, the corporate debtor. The application was admitted on April 6, 2018, and Ms. Sonu Jain was appointed as the Insolvency Resolution Professional (IRP). The IRP initiated the CIRP, issued a public announcement, and called for expressions of interest. Two resolution plans were received from M/s. JVS Construction Company Private Limited and M/s. Spartan Global Solution Limited. The Committee of Creditors (CoC) initially accepted the resolution plan of JVS Construction Company Private Limited. However,
…Light Speed Trade & Consultancy Private Limited, an operational creditor, initiated CIRP against Jinprabhu Infrastructure Developments Limited. The application was admitted on April 6, 2018. Ms. Sonu Jain was appointed as the IRP. Two resolution plans were submitted by M/s. JVS Construction Company Private Limited and M/s. Spartan Global Solution Limited. The CoC initially approved the plan of JVS Construction Company Private Limited. JVS Construction Company Private Limited withdrew its resolution plan. The CoC decided to liquidate the corporate debtor. The corporate debtor had ceased trading in shares due to suspension by the Calcutta Stock Exchange in June 1997. The corporate debtor had not availed any loans from financial institutions. The Resolution
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The application under…
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Light Speed Trade & Consultancy Private Limited, an operational creditor, filed an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, to initiate the Corporate Insolvency Resolution Process (CIRP) against Jinprabhu Infrastructure Developments Limited, the corporate debtor. The application was admitted on April 6, 2018, and Ms. Sonu Jain was appointed as the Insolvency Resolution Professional (IRP). The IRP initiated the CIRP, issued a public announcement, and called for expressions of interest. Two resolution plans were received from M/s. JVS Construction Company Private Limited and M/s. Spartan Global Solution Limited. The Committee of Creditors (CoC) initially accepted the resolution plan of JVS Construction Company Private Limited. However,
…Light Speed Trade & Consultancy Private Limited, an operational creditor, initiated CIRP against Jinprabhu Infrastructure Developments Limited. The application was admitted on April 6, 2018. Ms. Sonu Jain was appointed as the IRP. Two resolution plans were submitted by M/s. JVS Construction Company Private Limited and M/s. Spartan Global Solution Limited. The CoC initially approved the plan of JVS Construction Company Private Limited. JVS Construction Company Private Limited withdrew its resolution plan. The CoC decided to liquidate the corporate debtor. The corporate debtor had ceased trading in shares due to suspension by the Calcutta Stock Exchange in June 1997. The corporate debtor had not availed any loans from financial institutions. The Resolution
…The application under…
Progress report filed…