The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) in Company Petition (IB) No. 60 of 2019 for the liquidation of the Corporate Debtor, Khushbu Vinyl Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by Bank of India under Section 7 of the IBC. The application was admitted on 19.07.2019, and Mr. Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP), later continuing as RP. After the last date of submission of Expression of Interest (EOI), Shreenathji Rasayan Pvt Ltd submitted a resolution plan on 13.01.2020. The Committee of Creditors (CoC) decided to apply for an extension of the CIRP period. The Adjudicating Authority allowed
…The Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Khushbu Vinyl Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC). Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP) and later continued as the Resolution Professional (RP). Shreenathji Rasayan Pvt Ltd submitted a resolution plan after the deadline. The Committee of Creditors (CoC) decided to seek an extension of the CIRP period, which was granted by the Adjudicating Authority. In its 9th meeting on 22.06.2020, the CoC resolved to liquidate the Corporate Debtor due to the absence of viable resolution plans. A prospective Resolution Applicant filed an application (IA 570 of 2020) seeking condonation of delay in submitting a resolution plan,
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The Adjudicating Authority admitted the…
Shreenathji Rasayan Pvt Ltd submitted a…
The case involves an application filed by the Resolution Professional (RP) under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC) in Company Petition (IB) No. 60 of 2019 for the liquidation of the Corporate Debtor, Khushbu Vinyl Pvt Ltd. The Corporate Insolvency Resolution Process (CIRP) was initiated by Bank of India under Section 7 of the IBC. The application was admitted on 19.07.2019, and Mr. Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP), later continuing as RP. After the last date of submission of Expression of Interest (EOI), Shreenathji Rasayan Pvt Ltd submitted a resolution plan on 13.01.2020. The Committee of Creditors (CoC) decided to apply for an extension of the CIRP period. The Adjudicating Authority allowed
…The Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Khushbu Vinyl Pvt Ltd under Section 7 of the Insolvency and Bankruptcy Code (IBC). Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP) and later continued as the Resolution Professional (RP). Shreenathji Rasayan Pvt Ltd submitted a resolution plan after the deadline. The Committee of Creditors (CoC) decided to seek an extension of the CIRP period, which was granted by the Adjudicating Authority. In its 9th meeting on 22.06.2020, the CoC resolved to liquidate the Corporate Debtor due to the absence of viable resolution plans. A prospective Resolution Applicant filed an application (IA 570 of 2020) seeking condonation of delay in submitting a resolution plan,
…The Adjudicating Authority admitted the…
Shreenathji Rasayan Pvt Ltd submitted a…