The Resolution Professional (RP) of the Corporate Debtor filed an application (IA No.17/2023) seeking directions for initiating liquidation proceedings of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code (IBC). The RP also sought appointment as the Liquidator and approval of the Liquidator's fee. The case originated from an application filed under Section 7 of the IBC by the Financial Creditor, which was admitted on 2022-04-18. An Interim Resolution Professional (IRP) was appointed to conduct the Corporate Insolvency Resolution Process (CIRP). Public announcement and invitation of claims were made. A Committee of Creditors (CoC) was constituted. Several CoC meetings were held to evaluate resolution plans, but no viable resolution plan was
…An application (IA No.17/2023) was filed by the Resolution Professional (RP) seeking liquidation of JML Marketings Pvt. Ltd., the Corporate Debtor. The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC). The CIRP was initiated based on an application under Section 7 of IBC filed by American Express Banking Corp., the Financial Creditor, which was admitted on 2022-04-18. The Interim Resolution Professional (IRP) was appointed. Public announcements were made, and a Committee of Creditors (CoC) was formed. Several CoC meetings were held. In the 3rd CoC meeting held on 2022-07-15, eligibility criteria for inviting Expression of Interest (EoI) were discussed. In the 4th CoC meeting held on 2022-08-08, the RP informed the CoC that no EOIs
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Application filed U/s 7…
Public announcement of Corporate Insolvency…
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The Resolution Professional (RP) of the Corporate Debtor filed an application (IA No.17/2023) seeking directions for initiating liquidation proceedings of the Corporate Debtor under Section 33(2) of the Insolvency and Bankruptcy Code (IBC). The RP also sought appointment as the Liquidator and approval of the Liquidator's fee. The case originated from an application filed under Section 7 of the IBC by the Financial Creditor, which was admitted on 2022-04-18. An Interim Resolution Professional (IRP) was appointed to conduct the Corporate Insolvency Resolution Process (CIRP). Public announcement and invitation of claims were made. A Committee of Creditors (CoC) was constituted. Several CoC meetings were held to evaluate resolution plans, but no viable resolution plan was
…An application (IA No.17/2023) was filed by the Resolution Professional (RP) seeking liquidation of JML Marketings Pvt. Ltd., the Corporate Debtor. The application was filed under Section 33(2) of the Insolvency and Bankruptcy Code (IBC). The CIRP was initiated based on an application under Section 7 of IBC filed by American Express Banking Corp., the Financial Creditor, which was admitted on 2022-04-18. The Interim Resolution Professional (IRP) was appointed. Public announcements were made, and a Committee of Creditors (CoC) was formed. Several CoC meetings were held. In the 3rd CoC meeting held on 2022-07-15, eligibility criteria for inviting Expression of Interest (EoI) were discussed. In the 4th CoC meeting held on 2022-08-08, the RP informed the CoC that no EOIs
…Application filed U/s 7…
Public announcement of Corporate Insolvency…
Sign in to view related legal provisions.