The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order of liquidation against the Corporate Debtor, JKS The Banyaan Private Limited. The CIRP was initiated on 2021-04-23 by the Corporate Debtor itself. An Interim Resolution Professional (IRP), Mr. J Manivannan, was appointed, and a public announcement was made on 2021-05-12. The Committee of Creditors (COC) convened its first meeting on 2021-08-06, with Bank of Baroda as the sole financial creditor holding 100% voting rights. A civil appeal was filed before the Supreme Court against an NCLAT order, and the matter was remanded back to the Tribunal. Subsequent COC meetings were held to seek extensions of the CIRP period. The IRP was replaced, and
…The Corporate Debtor, JKS The Banyaan Private Limited, initiated its own Corporate Insolvency Resolution Process (CIRP) on 2021-04-23. Mr. J Manivannan was appointed as the Interim Resolution Professional (IRP), and a public announcement was made on 2021-05-12. The first Committee of Creditors (COC) meeting was held on 2021-08-06, with Bank of Baroda as the sole financial creditor holding 100% voting rights. A civil appeal was filed before the Supreme Court against an NCLAT order, and the matter was remanded back to the Tribunal. Subsequent COC meetings were held to seek extensions of the CIRP period. The IRP was replaced. Despite efforts to find a resolution plan, including publishing EOIs and revising FORM G, no viable plan was received. The 9th COC meeting on
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The Corporate Insolvency Resolution Process…
Public announce…
The case pertains to an application filed under Section 33(2) of the Insolvency and Bankruptcy Code, 2016, seeking an order of liquidation against the Corporate Debtor, JKS The Banyaan Private Limited. The CIRP was initiated on 2021-04-23 by the Corporate Debtor itself. An Interim Resolution Professional (IRP), Mr. J Manivannan, was appointed, and a public announcement was made on 2021-05-12. The Committee of Creditors (COC) convened its first meeting on 2021-08-06, with Bank of Baroda as the sole financial creditor holding 100% voting rights. A civil appeal was filed before the Supreme Court against an NCLAT order, and the matter was remanded back to the Tribunal. Subsequent COC meetings were held to seek extensions of the CIRP period. The IRP was replaced, and
…The Corporate Debtor, JKS The Banyaan Private Limited, initiated its own Corporate Insolvency Resolution Process (CIRP) on 2021-04-23. Mr. J Manivannan was appointed as the Interim Resolution Professional (IRP), and a public announcement was made on 2021-05-12. The first Committee of Creditors (COC) meeting was held on 2021-08-06, with Bank of Baroda as the sole financial creditor holding 100% voting rights. A civil appeal was filed before the Supreme Court against an NCLAT order, and the matter was remanded back to the Tribunal. Subsequent COC meetings were held to seek extensions of the CIRP period. The IRP was replaced. Despite efforts to find a resolution plan, including publishing EOIs and revising FORM G, no viable plan was received. The 9th COC meeting on
…The Corporate Insolvency Resolution Process…
Public announce…