The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Bony Paul Systems Private Limited. The CIRP was initiated following an application under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant, Mr. Anil Arora, served as the Resolution Professional (RP). The CIRP commenced on 2019-10-23. Public announcements were made to invite claims from creditors. A Committee of Creditors (CoC) was constituted on 2019-11-17, comprising 18 operational creditors. An application for extension of the CIRP period and exclusion of the lockdown period was filed. Despite efforts to invite resolution plans, only one Expression of Interest (EOI) was received, but no resolution plan materialized. Consequently, the CoC resolved to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Bony Paul Systems Private Limited on 2019-10-23. Mr. Anil Arora was appointed as the Interim Resolution Professional (IRP) and later continued as the Resolution Professional (RP). A Committee of Creditors (CoC) was formed on 2019-11-17, consisting of 18 operational creditors. The RP published invitations for Expression of Interest (EOI) for submission of a resolution plan. Only one EOI was received, but no resolution plan was submitted. An application was filed to extend the CIRP period and exclude the lockdown period. The CoC resolved to liquidate the Corporate Debtor on 2020-11-25, as no resolution plan was received. A claim petition by the Corporate Debtor against Larsen and Turbo Limited for
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Corporate Insolvency…
The applicant was…
The case pertains to the Corporate Insolvency Resolution Process (CIRP) initiated against Bony Paul Systems Private Limited. The CIRP was initiated following an application under Section 33 of the Insolvency and Bankruptcy Code, 2016 (IBC). The applicant, Mr. Anil Arora, served as the Resolution Professional (RP). The CIRP commenced on 2019-10-23. Public announcements were made to invite claims from creditors. A Committee of Creditors (CoC) was constituted on 2019-11-17, comprising 18 operational creditors. An application for extension of the CIRP period and exclusion of the lockdown period was filed. Despite efforts to invite resolution plans, only one Expression of Interest (EOI) was received, but no resolution plan materialized. Consequently, the CoC resolved to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Bony Paul Systems Private Limited on 2019-10-23. Mr. Anil Arora was appointed as the Interim Resolution Professional (IRP) and later continued as the Resolution Professional (RP). A Committee of Creditors (CoC) was formed on 2019-11-17, consisting of 18 operational creditors. The RP published invitations for Expression of Interest (EOI) for submission of a resolution plan. Only one EOI was received, but no resolution plan was submitted. An application was filed to extend the CIRP period and exclude the lockdown period. The CoC resolved to liquidate the Corporate Debtor on 2020-11-25, as no resolution plan was received. A claim petition by the Corporate Debtor against Larsen and Turbo Limited for
…Corporate Insolvency…
The applicant was…