The case pertains to an application filed by the Resolution Professional (RP) of Greendiamz Biotech Ltd. under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the Financial Creditor, Union Bank of India, under Section 7 of the IBC, 2016. The Adjudicating Authority admitted the application on 27.05.2020. Subsequently, Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP) and later re-appointed as the Resolution Professional (RP). A public announcement was made to invite claims from creditors, and the IRP received claims from the Financial Creditor and three Operational Creditors.
…The Resolution Professional (RP), Chandra Prakash Jain, filed an application for the liquidation of Greendiamz Biotech Ltd. under Sections 33(1), 33(2), and 34(1) of the IBC, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Union Bank of India, the Financial Creditor, under Section 7 of the IBC, 2016, which was admitted on 27.05.2020. Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP) and later as the RP. A public announcement was made, and claims were received from Union Bank of India and three Operational Creditors. The Committee of Creditors (CoC) consisted solely of Union Bank of India. Two resolution plans were submitted by Mr. Prakash Jalan and Mr. Prakash Ghewarchand Jain, but the CoC
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The Adjudicating Authority admitted the…
A public announcement was published in Business…
The case pertains to an application filed by the Resolution Professional (RP) of Greendiamz Biotech Ltd. under Section 33(1), 33(2), and 34(1) of the Insolvency and Bankruptcy Code, 2016, seeking liquidation of the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated following an application by the Financial Creditor, Union Bank of India, under Section 7 of the IBC, 2016. The Adjudicating Authority admitted the application on 27.05.2020. Subsequently, Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP) and later re-appointed as the Resolution Professional (RP). A public announcement was made to invite claims from creditors, and the IRP received claims from the Financial Creditor and three Operational Creditors.
…The Resolution Professional (RP), Chandra Prakash Jain, filed an application for the liquidation of Greendiamz Biotech Ltd. under Sections 33(1), 33(2), and 34(1) of the IBC, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Union Bank of India, the Financial Creditor, under Section 7 of the IBC, 2016, which was admitted on 27.05.2020. Chandra Prakash Jain was appointed as the Interim Resolution Professional (IRP) and later as the RP. A public announcement was made, and claims were received from Union Bank of India and three Operational Creditors. The Committee of Creditors (CoC) consisted solely of Union Bank of India. Two resolution plans were submitted by Mr. Prakash Jalan and Mr. Prakash Ghewarchand Jain, but the CoC
…The Adjudicating Authority admitted the…
A public announcement was published in Business…