The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by D K Jain Properties Private Limited against Sarswati Sales Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed. Public announcements were made, and a Committee of Creditors (CoC) was formed. However, the directors of the corporate debtor failed to provide audited annual accounts and statutory records. The CoC decided to issue an invitation for Expression of Interest, but no request was received.
D K Jain Properties Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Sarswati Sales Private Limited. The application was admitted, and CIRP was initiated. Mr. Shashi Agarwal was appointed as the Interim Resolution Professional. A public announcement was made, and a Committee of Creditors (CoC) was formed. The directors of Sarswati Sales Private Limited failed to provide audited annual accounts and statutory records. The CoC decided to issue an invitation for Expression of Interest, but no request for a resolution plan was received. The CoC consented to the liquidation of the corporate debtor. The Resolution Professional reported that there was no cash flow in the company. The court considered the final progress
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The petition was directed to be admitted, and…
The IRP submitted a public announcement in Form…
The case pertains to an application filed under Section 7 of the Insolvency and Bankruptcy Code, 2016, read with Rule 4 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, by D K Jain Properties Private Limited against Sarswati Sales Private Limited. The Corporate Insolvency Resolution Process (CIRP) was initiated, and an Interim Resolution Professional (IRP) was appointed. Public announcements were made, and a Committee of Creditors (CoC) was formed. However, the directors of the corporate debtor failed to provide audited annual accounts and statutory records. The CoC decided to issue an invitation for Expression of Interest, but no request was received.
D K Jain Properties Private Limited filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Sarswati Sales Private Limited. The application was admitted, and CIRP was initiated. Mr. Shashi Agarwal was appointed as the Interim Resolution Professional. A public announcement was made, and a Committee of Creditors (CoC) was formed. The directors of Sarswati Sales Private Limited failed to provide audited annual accounts and statutory records. The CoC decided to issue an invitation for Expression of Interest, but no request for a resolution plan was received. The CoC consented to the liquidation of the corporate debtor. The Resolution Professional reported that there was no cash flow in the company. The court considered the final progress
…The petition was directed to be admitted, and…
The IRP submitted a public announcement in Form…