The case involves multiple applications (CA No. 215/2019, CA No. 73/2020, and IA No. 160/2020) in CP No. (IB) 223/ALD/2018 concerning the corporate insolvency resolution process (CIRP) of JVL Agro Industries Ltd. initiated under Section 33(1) of the Insolvency & Bankruptcy Code, 2016. The CIRP was initiated following the admission of a petition on July 25, 2018, and Mr. Abhishek Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Supriyo Kr Chaudhary. The Resolution Professional (RP) sought resolution plans, but none were approved. An application (CA No. 73/ALD/2020) was filed by employees of JVL Agro Industries Ltd seeking approval of a resolution plan, which was opposed by the RP. The RP also filed an application for
…1. CIRP initiated against JVL Agro Industries Ltd on July 25, 2018, in CP No. (IB) 223/ALD/2018.
2. Mr. Abhishek Gupta was initially appointed as IRP, later replaced by Mr. Supriyo Kr Chaudhary as RP.
3. RP issued requests for submitting Expression of Interest (EOI) for resolution plans; two EOIs were initially received, and later, after reissuing the request, 12 EOIs were received.
4. The RP shortlisted 12 potential resolution applicants and provided them access to virtual data and an information memorandum.
5. The last date for submission of resolution plans was February 2, 2019, but no plans were received.
6. The Committee of Creditors (CoC) agreed to extend the CIRP period, approving an extension of 90 days to the initial 180 days.
7. SREI Multiple Assets Investment
Sign in to view the parties.
Petition admitted for initiation of CIRP…
Mr. Supriyo Kr…
The case involves multiple applications (CA No. 215/2019, CA No. 73/2020, and IA No. 160/2020) in CP No. (IB) 223/ALD/2018 concerning the corporate insolvency resolution process (CIRP) of JVL Agro Industries Ltd. initiated under Section 33(1) of the Insolvency & Bankruptcy Code, 2016. The CIRP was initiated following the admission of a petition on July 25, 2018, and Mr. Abhishek Gupta was initially appointed as the Interim Resolution Professional (IRP), later replaced by Mr. Supriyo Kr Chaudhary. The Resolution Professional (RP) sought resolution plans, but none were approved. An application (CA No. 73/ALD/2020) was filed by employees of JVL Agro Industries Ltd seeking approval of a resolution plan, which was opposed by the RP. The RP also filed an application for
…1. CIRP initiated against JVL Agro Industries Ltd on July 25, 2018, in CP No. (IB) 223/ALD/2018.
2. Mr. Abhishek Gupta was initially appointed as IRP, later replaced by Mr. Supriyo Kr Chaudhary as RP.
3. RP issued requests for submitting Expression of Interest (EOI) for resolution plans; two EOIs were initially received, and later, after reissuing the request, 12 EOIs were received.
4. The RP shortlisted 12 potential resolution applicants and provided them access to virtual data and an information memorandum.
5. The last date for submission of resolution plans was February 2, 2019, but no plans were received.
6. The Committee of Creditors (CoC) agreed to extend the CIRP period, approving an extension of 90 days to the initial 180 days.
7. SREI Multiple Assets Investment
Petition admitted for initiation of CIRP…
Mr. Supriyo Kr…