The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Olympia Credits & Mercantile Private Limited (Financial Creditor) against Prithvi Finvest Co. Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 2018-01-15, and Mr. Rajesh Kumar Kejriwal was appointed as the IRP, later replaced by Mr. Jitendra Lohia. The CIRP process continued, but only one expression of interest was received from a Resolution Applicant, and the CIRP ended without a Resolution Plan. The CIRP period of 270 days expired on 2018-10-11, and a further period of 330 days also expired.
Olympia Credits & Mercantile Private Limited initiated CIRP against Prithvi Finvest Co. Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 2018-01-15. Rajesh Kumar Kejriwal was appointed as IRP, later replaced by Jitendra Lohia. The CIRP process continued, but only one expression of interest was received. The initial Resolution Plan was rejected by the COC, and a revised plan was not submitted. The CIRP period of 270 days expired on 2018-10-11, and an additional 330 days also expired. The Appellate Tribunal restrained the approval of a Resolution Plan or liquidation order. The RP reported the absence of a Resolution Plan. The 9th COC meeting discussed the Resolution Plan, and the 10th COC meeting recorded
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Application admitted…
CIRP period of…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Olympia Credits & Mercantile Private Limited (Financial Creditor) against Prithvi Finvest Co. Private Limited (Corporate Debtor) for initiating the Corporate Insolvency Resolution Process (CIRP). The application was admitted on 2018-01-15, and Mr. Rajesh Kumar Kejriwal was appointed as the IRP, later replaced by Mr. Jitendra Lohia. The CIRP process continued, but only one expression of interest was received from a Resolution Applicant, and the CIRP ended without a Resolution Plan. The CIRP period of 270 days expired on 2018-10-11, and a further period of 330 days also expired.
Olympia Credits & Mercantile Private Limited initiated CIRP against Prithvi Finvest Co. Private Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The application was admitted on 2018-01-15. Rajesh Kumar Kejriwal was appointed as IRP, later replaced by Jitendra Lohia. The CIRP process continued, but only one expression of interest was received. The initial Resolution Plan was rejected by the COC, and a revised plan was not submitted. The CIRP period of 270 days expired on 2018-10-11, and an additional 330 days also expired. The Appellate Tribunal restrained the approval of a Resolution Plan or liquidation order. The RP reported the absence of a Resolution Plan. The 9th COC meeting discussed the Resolution Plan, and the 10th COC meeting recorded
…Application admitted…
CIRP period of…