The case involves the Corporate Insolvency Resolution Process (CIRP) of Meena Jewellers Exclusive Private Limited. The CIRP was initiated based on a petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code (IBC), which was admitted on 26.11.2019. An application was filed by the Resolution Professional under Section 33(1)(a) of the IBC seeking orders for liquidation of Meena Jewellers Exclusive Private Limited. An application was also filed by Mr. Uday Pilani under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, praying the Tribunal to pass an Order to Direct the Resolution Professional to consider the profile of the Applicant and allow the applicant to submit the Resolution Plan.
State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Meena Jewellers Exclusive Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was admitted on 26.11.2019. Dr. K.V. Srinivas was appointed as the Resolution Professional. The CIRP period ended on 06.08.2020, excluding 74 days due to the COVID-19 lockdown. The Ex-Management/Directors did not cooperate and dishonored their undertakings. The Committee of Creditors (CoC) voted 100% in favor of liquidation on 05.08.2020, as no viable resolution plan was received. Mr. Uday Pilani filed an application (IA No. 727/2020) under Section 60(5) of the IBC seeking permission to submit a resolution plan after the deadline, claiming he was unable to submit it
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The petition filed by State Bank of India…
Resolution Professional invited Expression of…
The case involves the Corporate Insolvency Resolution Process (CIRP) of Meena Jewellers Exclusive Private Limited. The CIRP was initiated based on a petition filed by State Bank of India under Section 7 of the Insolvency and Bankruptcy Code (IBC), which was admitted on 26.11.2019. An application was filed by the Resolution Professional under Section 33(1)(a) of the IBC seeking orders for liquidation of Meena Jewellers Exclusive Private Limited. An application was also filed by Mr. Uday Pilani under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, praying the Tribunal to pass an Order to Direct the Resolution Professional to consider the profile of the Applicant and allow the applicant to submit the Resolution Plan.
State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Meena Jewellers Exclusive Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC). The petition was admitted on 26.11.2019. Dr. K.V. Srinivas was appointed as the Resolution Professional. The CIRP period ended on 06.08.2020, excluding 74 days due to the COVID-19 lockdown. The Ex-Management/Directors did not cooperate and dishonored their undertakings. The Committee of Creditors (CoC) voted 100% in favor of liquidation on 05.08.2020, as no viable resolution plan was received. Mr. Uday Pilani filed an application (IA No. 727/2020) under Section 60(5) of the IBC seeking permission to submit a resolution plan after the deadline, claiming he was unable to submit it
…The petition filed by State Bank of India…
Resolution Professional invited Expression of…