The case involves an application for the liquidation of Shree Ashtvinayak Gems and Stones Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The applicant, Laxmi Dia Jewel Private Limited, is the operational creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated on December 10, 2019. The applicant sought exclusion of the lockdown period imposed by the Central Government and an extension of 90 days + 60 days respectively from the CIRP period. The Adjudicating Authority excluded 98 days and extended the CIRP period by 90 days + 60 days. The Committee of Creditors (CoC), with 100% voting shares, resolved to file an application before the NCLT for the liquidation of the Corporate Debtor. The Resolution Professional (RP) did
…Laxmi Dia Jewel Private Limited, the operational creditor, filed an application for the liquidation of Shree Ashtvinayak Gems & Stones Pvt Ltd, the corporate debtor, under Section 33(2) of the IBC, 2016. The CIRP was initiated on December 10, 2019. The applicant sought exclusion of the lockdown period and an extension of 90+60 days. The Adjudicating Authority excluded 98 days and extended the CIRP by 90+60 days. The CoC, with 100% voting share, resolved to liquidate the corporate debtor. The RP, Ashok Kumar Juneja, did not consent to continue as liquidator. The applicant filed an affidavit regarding the pending investigation of the Ex-director. The last audited balance sheet available on the MCA portal was for FY 2015-2016, showing a turnover of over Rs 1359
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Corporate Insolvency…
CIRP period end…
The case involves an application for the liquidation of Shree Ashtvinayak Gems and Stones Private Limited under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The applicant, Laxmi Dia Jewel Private Limited, is the operational creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated on December 10, 2019. The applicant sought exclusion of the lockdown period imposed by the Central Government and an extension of 90 days + 60 days respectively from the CIRP period. The Adjudicating Authority excluded 98 days and extended the CIRP period by 90 days + 60 days. The Committee of Creditors (CoC), with 100% voting shares, resolved to file an application before the NCLT for the liquidation of the Corporate Debtor. The Resolution Professional (RP) did
…Laxmi Dia Jewel Private Limited, the operational creditor, filed an application for the liquidation of Shree Ashtvinayak Gems & Stones Pvt Ltd, the corporate debtor, under Section 33(2) of the IBC, 2016. The CIRP was initiated on December 10, 2019. The applicant sought exclusion of the lockdown period and an extension of 90+60 days. The Adjudicating Authority excluded 98 days and extended the CIRP by 90+60 days. The CoC, with 100% voting share, resolved to liquidate the corporate debtor. The RP, Ashok Kumar Juneja, did not consent to continue as liquidator. The applicant filed an affidavit regarding the pending investigation of the Ex-director. The last audited balance sheet available on the MCA portal was for FY 2015-2016, showing a turnover of over Rs 1359
…Corporate Insolvency…
CIRP period end…