The case involves corporate insolvency resolution process (CIRP) initiated against Supreme Tex Mart Ltd. based on an application filed by Allahabad Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 29.09.2017, and a moratorium was declared. Mr. Bhupesh Gupta was appointed as the Interim Resolution Professional (IRP). The IRP constituted a Committee of Creditors (CoC). Several meetings of the CoC were held to invite Expression of Interest (EOI) and consider resolution plans. CA No.265 of 2018 was filed by Supreme Association of Employees of the Corporate Debtor, seeking revival of the Corporate Debtor and opposing liquidation. CA No.266 of 2018 was filed by the Resolution Professional.
Allahabad Bank filed CP(IB) No.67/Chd/Pb/2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Supreme Tex Mart Ltd., initiating the CIRP. The petition was admitted on 2017-09-29, and a moratorium was declared. Bhupesh Gupta was appointed as the Interim Resolution Professional (IRP). The IRP formed a Committee of Creditors (CoC) consisting of 12 financial creditors. The CoC confirmed the IRP as the Resolution Professional. The CoC finalized criteria for inviting Expression of Interest (EOI) for resolution plans. Four entities submitted EOIs, but the CoC decided to re-invite EOIs. The Resolution Professional filed CA No.76 of 2018, seeking a 90-day extension, which was granted on 2018-03-23. Two resolution plans were received, one of which was
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Petition filed by…
Mr. Bhupesh Gupta…
The case involves corporate insolvency resolution process (CIRP) initiated against Supreme Tex Mart Ltd. based on an application filed by Allahabad Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on 29.09.2017, and a moratorium was declared. Mr. Bhupesh Gupta was appointed as the Interim Resolution Professional (IRP). The IRP constituted a Committee of Creditors (CoC). Several meetings of the CoC were held to invite Expression of Interest (EOI) and consider resolution plans. CA No.265 of 2018 was filed by Supreme Association of Employees of the Corporate Debtor, seeking revival of the Corporate Debtor and opposing liquidation. CA No.266 of 2018 was filed by the Resolution Professional.
Allahabad Bank filed CP(IB) No.67/Chd/Pb/2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Supreme Tex Mart Ltd., initiating the CIRP. The petition was admitted on 2017-09-29, and a moratorium was declared. Bhupesh Gupta was appointed as the Interim Resolution Professional (IRP). The IRP formed a Committee of Creditors (CoC) consisting of 12 financial creditors. The CoC confirmed the IRP as the Resolution Professional. The CoC finalized criteria for inviting Expression of Interest (EOI) for resolution plans. Four entities submitted EOIs, but the CoC decided to re-invite EOIs. The Resolution Professional filed CA No.76 of 2018, seeking a 90-day extension, which was granted on 2018-03-23. Two resolution plans were received, one of which was
…Petition filed by…
Mr. Bhupesh Gupta…