The case involves an application (IA(IBC)/1615(KB)2022) filed by the Interim Resolution Professional (IRP) of Jangipur Bitumen Private Limited, the Corporate Debtor, seeking liquidation of the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 04/02/2020. The IRP, Ms. Savita Agarwal, was appointed. Public announcements were made inviting claims from creditors. The IRP faced difficulties in obtaining information and cooperation from the suspended Board of Directors. An application for early dissolution was dismissed as premature. The Committee of Creditors (CoC) was formed, comprising the petitioning Operational Creditor and the Commissioner, Commercial Taxes, Government of West Bengal. The IRP received limited funds and faced challenges in progressing
…Jangipur Bitumen Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP) initiated under CP(IB)/910(KB)2018. Ms. Savita Agarwal was appointed as the Interim Resolution Professional (IRP). The IRP faced difficulties in obtaining necessary documents and information from the suspended Board of Directors. The Corporate Debtor's registered office was untraceable, and its directors were either unreachable or unaware of the company's affairs. The Corporate Debtor's bank account was dormant with a minimal balance. The Committee of Creditors (CoC) comprised of the petitioning Operational Creditor and the Commissioner, Commercial Taxes, Government of West Bengal, but they did not take any definitive decisions. The IRP's fees were not fully paid. The CIRP
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The case involves an application (IA(IBC)/1615(KB)2022) filed by the Interim Resolution Professional (IRP) of Jangipur Bitumen Private Limited, the Corporate Debtor, seeking liquidation of the Corporate Debtor. CIRP was initiated against the Corporate Debtor on 04/02/2020. The IRP, Ms. Savita Agarwal, was appointed. Public announcements were made inviting claims from creditors. The IRP faced difficulties in obtaining information and cooperation from the suspended Board of Directors. An application for early dissolution was dismissed as premature. The Committee of Creditors (CoC) was formed, comprising the petitioning Operational Creditor and the Commissioner, Commercial Taxes, Government of West Bengal. The IRP received limited funds and faced challenges in progressing
…Jangipur Bitumen Private Limited was undergoing Corporate Insolvency Resolution Process (CIRP) initiated under CP(IB)/910(KB)2018. Ms. Savita Agarwal was appointed as the Interim Resolution Professional (IRP). The IRP faced difficulties in obtaining necessary documents and information from the suspended Board of Directors. The Corporate Debtor's registered office was untraceable, and its directors were either unreachable or unaware of the company's affairs. The Corporate Debtor's bank account was dormant with a minimal balance. The Committee of Creditors (CoC) comprised of the petitioning Operational Creditor and the Commissioner, Commercial Taxes, Government of West Bengal, but they did not take any definitive decisions. The IRP's fees were not fully paid. The CIRP
…The Adjudicating Authority ordered the…
The Registry, NCLT…