The case involves the Corporate Insolvency Resolution Process (CIRP) of Venus Garments (India) Limited initiated by State Bank of India. An application was filed by Anil Kumar Jain, a promoter and director, seeking re-issuance of Form G for inviting resolution plans. Subsequently, the Resolution Professional (RP) filed an application for liquidation of the Corporate Debtor based on the decision of the Committee of Creditors (CoC).
State Bank of India initiated CIRP against Venus Garments (India) Limited under Section 7 of IBC.
The Corporate Debtor's application was admitted on 24.11.2022.
Navneet Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
Form G was issued on 23.01.2023, inviting Expressions of Interest (EOI) for resolution plans.
No resolution plan was received within the stipulated timeframe.
The Committee of Creditors (CoC) decided to liquidate the Corporate Debtor in its 5th meeting held on 16.05.2023 with 100% voting share.
Anil Kumar Jain, a promoter and director of the Corporate Debtor, filed an application seeking re-issuance of Form G.
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Application of the Corporate Debtor was…
Mr. Navneet Gupta was…
The case involves the Corporate Insolvency Resolution Process (CIRP) of Venus Garments (India) Limited initiated by State Bank of India. An application was filed by Anil Kumar Jain, a promoter and director, seeking re-issuance of Form G for inviting resolution plans. Subsequently, the Resolution Professional (RP) filed an application for liquidation of the Corporate Debtor based on the decision of the Committee of Creditors (CoC).
State Bank of India initiated CIRP against Venus Garments (India) Limited under Section 7 of IBC.
The Corporate Debtor's application was admitted on 24.11.2022.
Navneet Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP).
Form G was issued on 23.01.2023, inviting Expressions of Interest (EOI) for resolution plans.
No resolution plan was received within the stipulated timeframe.
The Committee of Creditors (CoC) decided to liquidate the Corporate Debtor in its 5th meeting held on 16.05.2023 with 100% voting share.
Anil Kumar Jain, a promoter and director of the Corporate Debtor, filed an application seeking re-issuance of Form G.
…Application of the Corporate Debtor was…
Mr. Navneet Gupta was…