Punjab National Bank filed CP No. 1267 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Linkson International Ltd. The Resolution Professional (RP) filed a report recommending liquidation of the Corporate Debtor, as resolved by the Committee of Creditors (CoC). The Section 7 petition was admitted on 6.10.2017, and an Interim Resolution Professional (IRP) was appointed. A public announcement was issued on 14.10.2017 inviting claims from creditors. The CoC was constituted comprising only Punjab National Bank (PNB) as the financial creditor.
Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Linkson International Ltd. by filing CP No. 1267 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was admitted on 6.10.2017. An Interim Resolution Professional (IRP) was appointed, and a public announcement was made on 14.10.2017, inviting claims from creditors. The Committee of Creditors (CoC) was formed, consisting solely of PNB. The IRP filed an application (MA No. 558/2017) seeking cooperation from the Corporate Debtor's directors in providing financial information. The CoC approved the continuation of the IRP as the Resolution Professional (RP). The RP informed the CoC about the difficulties in preparing an information memorandum due
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Punjab National Bank…
Section 7 Pe…
Punjab National Bank filed CP No. 1267 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) against Linkson International Ltd. The Resolution Professional (RP) filed a report recommending liquidation of the Corporate Debtor, as resolved by the Committee of Creditors (CoC). The Section 7 petition was admitted on 6.10.2017, and an Interim Resolution Professional (IRP) was appointed. A public announcement was issued on 14.10.2017 inviting claims from creditors. The CoC was constituted comprising only Punjab National Bank (PNB) as the financial creditor.
Punjab National Bank (PNB) initiated Corporate Insolvency Resolution Process (CIRP) against Linkson International Ltd. by filing CP No. 1267 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC). The petition was admitted on 6.10.2017. An Interim Resolution Professional (IRP) was appointed, and a public announcement was made on 14.10.2017, inviting claims from creditors. The Committee of Creditors (CoC) was formed, consisting solely of PNB. The IRP filed an application (MA No. 558/2017) seeking cooperation from the Corporate Debtor's directors in providing financial information. The CoC approved the continuation of the IRP as the Resolution Professional (RP). The RP informed the CoC about the difficulties in preparing an information memorandum due
…Punjab National Bank…
Section 7 Pe…