The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the initiation of the liquidation process for the Corporate Debtor, M/s Jeph Bev Pvt. Ltd. The Adjudicating Authority had admitted an application filed by P.S. Metal Works (Financial Creditor) under Section 7 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP). Subsequently, the Applicant, Anoop Bhatia, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). In the 4th meeting of the Committee of Creditors (CoC), the sole member, P.S. Metal Works, voted for the liquidation of the Corporate Debtor due to reasons such as non-receipt of sufficient EOIs,
…P.S. Metal Works initiated Corporate Insolvency Resolution Process (CIRP) against M/s Jeph Bev Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Anoop Bhatia was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The 4th meeting of the Committee of Creditors (CoC) was held on 14.03.2023 and 15.03.2023, where the sole member, P.S. Metal Works, voted for the liquidation of the Corporate Debtor. The reasons for the decision included non-receipt of sufficient and appropriate Expressions of Interest (EOI), non-cooperation by the suspended directors, and the desire to avoid further delays in the CIRP. The Corporate Debtor was partly conducting its business operations from UNA, Himachal
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Application under…
4th meeting of the CoC dated 14.03.2023 and…
The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking directions for the initiation of the liquidation process for the Corporate Debtor, M/s Jeph Bev Pvt. Ltd. The Adjudicating Authority had admitted an application filed by P.S. Metal Works (Financial Creditor) under Section 7 of the Code for initiating the Corporate Insolvency Resolution Process (CIRP). Subsequently, the Applicant, Anoop Bhatia, was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). In the 4th meeting of the Committee of Creditors (CoC), the sole member, P.S. Metal Works, voted for the liquidation of the Corporate Debtor due to reasons such as non-receipt of sufficient EOIs,
…P.S. Metal Works initiated Corporate Insolvency Resolution Process (CIRP) against M/s Jeph Bev Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Anoop Bhatia was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The 4th meeting of the Committee of Creditors (CoC) was held on 14.03.2023 and 15.03.2023, where the sole member, P.S. Metal Works, voted for the liquidation of the Corporate Debtor. The reasons for the decision included non-receipt of sufficient and appropriate Expressions of Interest (EOI), non-cooperation by the suspended directors, and the desire to avoid further delays in the CIRP. The Corporate Debtor was partly conducting its business operations from UNA, Himachal
…Application under…
4th meeting of the CoC dated 14.03.2023 and…