The case involves an application (I.A. 07 of 2024) filed by Mr. Hemant Sharma, the Resolution Professional (RP) of M/s. Best News Company Private Limited (Corporate Debtor), seeking approval of the Resolution Plan submitted by AKB Ventures Private Limited, the Successful Resolution Applicant (SRA). The application is filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) following a petition filed by M/s Sharma Gandhi Hire Purchase Ltd. under Section 7 of the Code. The RP was appointed, and a public announcement was made inviting claims from creditors. The
…The Corporate Debtor, Best News Company Private Limited, was incorporated on 23.12.2011 with an authorized capital of Rs. 55,00,00,000/- and a paid-up capital of Rs. 29,00,00,000/-. Its primary business involves motion picture, radio, television, and other entertainment activities. M/s Sharma Gandhi Hire Purchase Ltd. (Financial Creditor) initiated CIRP against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated on 17.05.2023. Hemant Sharma was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 19.05.2023, inviting claims from creditors, with a deadline of 31.05.2023. The RP verified the claims and constituted a Committee of
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Best News Company…
Corporate Debtor…
The case involves an application (I.A. 07 of 2024) filed by Mr. Hemant Sharma, the Resolution Professional (RP) of M/s. Best News Company Private Limited (Corporate Debtor), seeking approval of the Resolution Plan submitted by AKB Ventures Private Limited, the Successful Resolution Applicant (SRA). The application is filed under Section 30(6) of the Insolvency & Bankruptcy Code, 2016, read with Regulation 39(4) of the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The Corporate Debtor was admitted into Corporate Insolvency Resolution Process (CIRP) following a petition filed by M/s Sharma Gandhi Hire Purchase Ltd. under Section 7 of the Code. The RP was appointed, and a public announcement was made inviting claims from creditors. The
…The Corporate Debtor, Best News Company Private Limited, was incorporated on 23.12.2011 with an authorized capital of Rs. 55,00,00,000/- and a paid-up capital of Rs. 29,00,00,000/-. Its primary business involves motion picture, radio, television, and other entertainment activities. M/s Sharma Gandhi Hire Purchase Ltd. (Financial Creditor) initiated CIRP against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016. The CIRP was initiated on 17.05.2023. Hemant Sharma was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 19.05.2023, inviting claims from creditors, with a deadline of 31.05.2023. The RP verified the claims and constituted a Committee of
…Best News Company…
Corporate Debtor…