The case involves an application (IA-1570/ND/2021) filed by Mr. Subhash Kumar Kundra, the Resolution Professional of Classic Bottle Caps Pvt. Ltd., under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor, GAC Shipping (India) Pvt. Ltd., had initiated Corporate Insolvency Resolution Process (CIRP) against Classic Bottle Caps Private Limited by filing an application under Section 9 of the IBC, 2016. The application was admitted on 13.02.2020, and Mr. Ratan Chaudhary was appointed as the Interim Resolution Professional (IRP). The IRP constituted a Committee of Creditors (CoC) with The City Union Bank as the sole Financial Creditor. The CoC resolved to replace the IRP and appoint a new Resolution Professional, leading to the appointment of
…GAC Shipping (India) Private Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Classic Bottle Caps Pvt. Ltd. by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted by the NCLT on 13.02.2020. Initially, Mr. Ratan Chaudhary was appointed as the Interim Resolution Professional (IRP). The IRP then constituted a Committee of Creditors (CoC), with The City Union Bank as the sole Financial Creditor. The CoC resolved to replace the IRP, and Mr. Subhash Kumar Kundra was appointed as the Resolution Professional (RP). The RP published Form G and received interest from four entities as Prospective Resolution Applicants (PRAs). However, ASC Consulting Pvt. Ltd. and
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GAC Shipping (India) Pvt. Ltd. filed an…
The Tribunal admitted the application and…
The case involves an application (IA-1570/ND/2021) filed by Mr. Subhash Kumar Kundra, the Resolution Professional of Classic Bottle Caps Pvt. Ltd., under Section 33(1) of the Insolvency and Bankruptcy Code, 2016. The Operational Creditor, GAC Shipping (India) Pvt. Ltd., had initiated Corporate Insolvency Resolution Process (CIRP) against Classic Bottle Caps Private Limited by filing an application under Section 9 of the IBC, 2016. The application was admitted on 13.02.2020, and Mr. Ratan Chaudhary was appointed as the Interim Resolution Professional (IRP). The IRP constituted a Committee of Creditors (CoC) with The City Union Bank as the sole Financial Creditor. The CoC resolved to replace the IRP and appoint a new Resolution Professional, leading to the appointment of
…GAC Shipping (India) Private Limited, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Classic Bottle Caps Pvt. Ltd. by filing an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The application was admitted by the NCLT on 13.02.2020. Initially, Mr. Ratan Chaudhary was appointed as the Interim Resolution Professional (IRP). The IRP then constituted a Committee of Creditors (CoC), with The City Union Bank as the sole Financial Creditor. The CoC resolved to replace the IRP, and Mr. Subhash Kumar Kundra was appointed as the Resolution Professional (RP). The RP published Form G and received interest from four entities as Prospective Resolution Applicants (PRAs). However, ASC Consulting Pvt. Ltd. and
…GAC Shipping (India) Pvt. Ltd. filed an…
The Tribunal admitted the application and…