The case pertains to IA No. 2920/ND/2023 filed in the matter of Company Petition No. (IB)-1095(ND)/2020. The application was filed by Mr. Ajay Gupta, the Resolution Professional (RP) of U.B.S Publishers Distributors Private Limited, seeking approval of the resolution plan of Kapivar & Ors. The underlying main petition was filed by M/s Pearson India Education Services Private Limited against the Corporate Debtor, M/s U.B.S Publishers Distributors Private Limited, under Section 9 of the IBC, 2016. The CIRP was initiated, and Mr. Ajay Gupta was appointed as the IRP and later confirmed as the RP. The resolution plan was approved by the Committee of Creditors (CoC) with a 92.23% voting share.
M/s Pearson India Education Services Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s U.B.S. Publishers Distributors Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 21.10.2022. Mr. Ajay Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made on 24.10.2022 and 02.11.2022 to invite claims from creditors. The RP constituted a Committee of Creditors (CoC) comprising operational creditors. The RP published Form-G on 20.12.2022 and 26.01.2023, with the last date for submission of Resolution Plans being 24.03.2023. The RP received 06 EOIs, out of which 02 PRAs, namely, Kapivar &
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Company Petit…
Corporate Insolvency…
The case pertains to IA No. 2920/ND/2023 filed in the matter of Company Petition No. (IB)-1095(ND)/2020. The application was filed by Mr. Ajay Gupta, the Resolution Professional (RP) of U.B.S Publishers Distributors Private Limited, seeking approval of the resolution plan of Kapivar & Ors. The underlying main petition was filed by M/s Pearson India Education Services Private Limited against the Corporate Debtor, M/s U.B.S Publishers Distributors Private Limited, under Section 9 of the IBC, 2016. The CIRP was initiated, and Mr. Ajay Gupta was appointed as the IRP and later confirmed as the RP. The resolution plan was approved by the Committee of Creditors (CoC) with a 92.23% voting share.
M/s Pearson India Education Services Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against M/s U.B.S. Publishers Distributors Private Limited under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The CIRP was admitted on 21.10.2022. Mr. Ajay Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). A public announcement was made on 24.10.2022 and 02.11.2022 to invite claims from creditors. The RP constituted a Committee of Creditors (CoC) comprising operational creditors. The RP published Form-G on 20.12.2022 and 26.01.2023, with the last date for submission of Resolution Plans being 24.03.2023. The RP received 06 EOIs, out of which 02 PRAs, namely, Kapivar &
…Company Petit…
Corporate Insolvency…