The case involves an application filed by the Resolution Professional (RP) seeking an order of liquidation for the Corporate Debtor, Khushi Foods Ltd, under Section 33(1) of the Insolvency and Bankruptcy Code (IB Code). The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition admitted on 02.11.2018 under Section 9 of the IB Code. Initially, Mr. Ashok Pranshankar was appointed as the Interim Resolution Professional (IRP).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Khushi Foods Ltd. based on a petition admitted on 02.11.2018 under Section 9 of the Insolvency and Bankruptcy Code (IB Code). Mr. Ashok Pranshankar was initially appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors and constituted a Committee of Creditors (CoC) on 19.12.2018. Claims were received from Union Bank of India and Deutsche Bank AG. The CoC, in its first meeting on 26.12.2018, proposed to replace the IRP, and Mr. Chandra Prakash Jain was appointed as the RP. The CoC also appointed M/s Patel and Jesalpur, Chartered Accountants, and two registered valuers. The RP informed the CoC about significant losses and suggested a
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The original C…
Petition bearing No. CP…
The case involves an application filed by the Resolution Professional (RP) seeking an order of liquidation for the Corporate Debtor, Khushi Foods Ltd, under Section 33(1) of the Insolvency and Bankruptcy Code (IB Code). The Corporate Insolvency Resolution Process (CIRP) was initiated based on a petition admitted on 02.11.2018 under Section 9 of the IB Code. Initially, Mr. Ashok Pranshankar was appointed as the Interim Resolution Professional (IRP).
The Corporate Insolvency Resolution Process (CIRP) was initiated against Khushi Foods Ltd. based on a petition admitted on 02.11.2018 under Section 9 of the Insolvency and Bankruptcy Code (IB Code). Mr. Ashok Pranshankar was initially appointed as the Interim Resolution Professional (IRP). The IRP made a public announcement inviting claims from creditors and constituted a Committee of Creditors (CoC) on 19.12.2018. Claims were received from Union Bank of India and Deutsche Bank AG. The CoC, in its first meeting on 26.12.2018, proposed to replace the IRP, and Mr. Chandra Prakash Jain was appointed as the RP. The CoC also appointed M/s Patel and Jesalpur, Chartered Accountants, and two registered valuers. The RP informed the CoC about significant losses and suggested a
…The original C…
Petition bearing No. CP…