The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against JSK Marketing Limited. The CIRP was initiated following an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Bombay Sales Agency, the Financial Creditor. Mr. Abhishek Lal was initially appointed as the Interim Resolution Professional (IRP). However, he expressed his inability to continue, and Mrs. Palak S. Desai was appointed as the Resolution Professional (RP). During the CIRP, several CoC meetings were held to discuss the resolution of the Corporate Debtor. Despite these efforts, no resolution plan was received.
The Corporate Debtor, JSK Marketing Limited, was admitted into CIRP based on an application under Section 7 of the IBC filed by the Financial Creditor, Bombay Sales Agency. Mr. Abhishek Lal was initially appointed as IRP but later expressed his inability to continue. Mrs. Palak S. Desai was then appointed as RP. Several CoC meetings were conducted, including meetings on 22.10.2019, 17.12.2019, 18.02.2020, and 02.12.2020. In the 2nd CoC meeting, it was resolved to appoint valuers for the Corporate Debtor's assets. The RP apprised the CoC members about the steps taken in relation to the CIRP and various interlocutory applications filed before the Tribunal. However, no resolution plan was received. In the 4th CoC meeting on 02.12.2020, the CoC members, with a 100%
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First CoC meeting held on 22.10.2019, IRP…
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The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against JSK Marketing Limited. The CIRP was initiated following an application under Section 7 of the Insolvency and Bankruptcy Code (IBC) by Bombay Sales Agency, the Financial Creditor. Mr. Abhishek Lal was initially appointed as the Interim Resolution Professional (IRP). However, he expressed his inability to continue, and Mrs. Palak S. Desai was appointed as the Resolution Professional (RP). During the CIRP, several CoC meetings were held to discuss the resolution of the Corporate Debtor. Despite these efforts, no resolution plan was received.
The Corporate Debtor, JSK Marketing Limited, was admitted into CIRP based on an application under Section 7 of the IBC filed by the Financial Creditor, Bombay Sales Agency. Mr. Abhishek Lal was initially appointed as IRP but later expressed his inability to continue. Mrs. Palak S. Desai was then appointed as RP. Several CoC meetings were conducted, including meetings on 22.10.2019, 17.12.2019, 18.02.2020, and 02.12.2020. In the 2nd CoC meeting, it was resolved to appoint valuers for the Corporate Debtor's assets. The RP apprised the CoC members about the steps taken in relation to the CIRP and various interlocutory applications filed before the Tribunal. However, no resolution plan was received. In the 4th CoC meeting on 02.12.2020, the CoC members, with a 100%
…Corporate Debtor placed…
First CoC meeting held on 22.10.2019, IRP…
Sign in to view related legal provisions.