The case involves an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, JPM Export Private Limited, due to the Committee of Creditors' (CoC) decision that no resolution plan was approved. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Hempragati Vyapaar Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Avishek Gupta was appointed as the Interim Resolution Professional (IRP) and later as the RP.
Hempragati Vyapaar Private Limited, a Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against JPM Export Private Limited. Avishek Gupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcements were made to invite claims from creditors, and a Committee of Creditors (CoC) was constituted. The RP invited Expression of Interests (EoIs) for resolution plans, receiving four EoIs but only one resolution plan from Klick2Buy Ventures Private Limited. The CoC found the resolution plan unsatisfactory, even after a revision, as it did not address the release of personal and
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The Adjudicating Authority directed initiation…
Public announcement was made in Financial…
The case involves an application filed by the Resolution Professional (RP) seeking liquidation of the Corporate Debtor, JPM Export Private Limited, due to the Committee of Creditors' (CoC) decision that no resolution plan was approved. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Hempragati Vyapaar Private Limited (Financial Creditor) under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Avishek Gupta was appointed as the Interim Resolution Professional (IRP) and later as the RP.
Hempragati Vyapaar Private Limited, a Financial Creditor, filed a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP) against JPM Export Private Limited. Avishek Gupta was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). Public announcements were made to invite claims from creditors, and a Committee of Creditors (CoC) was constituted. The RP invited Expression of Interests (EoIs) for resolution plans, receiving four EoIs but only one resolution plan from Klick2Buy Ventures Private Limited. The CoC found the resolution plan unsatisfactory, even after a revision, as it did not address the release of personal and
…The Adjudicating Authority directed initiation…
Public announcement was made in Financial…