The case involves a corporate insolvency resolution process (CIRP) initiated by Bengal Polypet against Pincon Spirits Limited. The CIRP was initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016. An interim resolution professional (IRP), Mr. Partha Kamal Sen, was initially appointed but later replaced by Mr. Binay Kumar Singhania. Several applications were filed during the CIRP, including those related to demarcation of the corporate debtor's property, custody of assets, and lifting of attachment on properties by the Directorate of Economic Offences (DEO), West Bengal. The Committee of Creditors (CoC) decided not to proceed with the resolution process and recommended liquidation. The extended period of 270 days for the CIRP expired without a successful
…Bengal Polypet initiated a CIRP against Pincon Spirits Limited under Section 9 of the IBC. Mr. Partha Kamal Sen was initially appointed as IRP, later replaced by Mr. Binay Kumar Singhania. The CoC decided to liquidate Pincon Spirits Limited after failing to find a resolution plan within the 270-day CIRP period. Several applications were filed during the CIRP, including CA(IB) No. 412/KB/2019, CA(IB) No. 453/KB/2019, CA(IB) No. 422/KB/2019, CA(IB) No. 1122/KB/2018, CA(IB) No. 612/KB/2019, CA(IB) No. 577/KB/2019, Inv. A. (IB) No. 929/KB/2019, and CA(IB) No. 1066/KB/2019. The Directorate of Economic Offences (DEO), West Bengal, had attached the properties of Pincon Spirits Limited under the WBPIDFE Act, hindering the RP's access to the assets and books of account. The
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Application admitted and Mr. Partha Kamal…
CoC decided not to…
The case involves a corporate insolvency resolution process (CIRP) initiated by Bengal Polypet against Pincon Spirits Limited. The CIRP was initiated under Section 9 of the Insolvency and Bankruptcy Code, 2016. An interim resolution professional (IRP), Mr. Partha Kamal Sen, was initially appointed but later replaced by Mr. Binay Kumar Singhania. Several applications were filed during the CIRP, including those related to demarcation of the corporate debtor's property, custody of assets, and lifting of attachment on properties by the Directorate of Economic Offences (DEO), West Bengal. The Committee of Creditors (CoC) decided not to proceed with the resolution process and recommended liquidation. The extended period of 270 days for the CIRP expired without a successful
…Bengal Polypet initiated a CIRP against Pincon Spirits Limited under Section 9 of the IBC. Mr. Partha Kamal Sen was initially appointed as IRP, later replaced by Mr. Binay Kumar Singhania. The CoC decided to liquidate Pincon Spirits Limited after failing to find a resolution plan within the 270-day CIRP period. Several applications were filed during the CIRP, including CA(IB) No. 412/KB/2019, CA(IB) No. 453/KB/2019, CA(IB) No. 422/KB/2019, CA(IB) No. 1122/KB/2018, CA(IB) No. 612/KB/2019, CA(IB) No. 577/KB/2019, Inv. A. (IB) No. 929/KB/2019, and CA(IB) No. 1066/KB/2019. The Directorate of Economic Offences (DEO), West Bengal, had attached the properties of Pincon Spirits Limited under the WBPIDFE Act, hindering the RP's access to the assets and books of account. The
…Application admitted and Mr. Partha Kamal…
CoC decided not to…