The case involves an application filed by Central Bank of India, a financial creditor of M/s Jupiter Leys Private Limited (the Corporate Debtor), seeking direction for the 2nd Respondent to affirm a resolution in the 3rd CoC for appointing Mr. V Duraisamy as the Resolution Professional. The Corporate Debtor was admitted into CIRP on 22.12.2023, and the 1st Respondent was appointed as the Interim Resolution Professional. The Applicant held a 59.36% vote share in the CoC, while the 2nd Respondent held 40.64%.
Central Bank of India, a financial creditor of M/s Jupiter Leys Private Limited, initiated proceedings under the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor, M/s Jupiter Leys Private Limited, was admitted into CIRP on 22.12.2023. The 1st Respondent was appointed as the Interim Resolution Professional. The Applicant (Central Bank of India) held a 59.36% vote share in the CoC, while the 2nd Respondent held 40.64%. The Applicant's claim was classified as unsecured because the secured assets had been sold under the SARFAESI Act before the CIRP initiation. The Applicant proposed Mr. Fanendra H Munot and later Mr. V Duraisamy as Resolution Professionals, but both were opposed by the 2nd Respondent. The 2nd Respondent proposed Shri. Ravindra Beleyur. The
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The Tribunal admitted…
The 1st Respondent was…
The case involves an application filed by Central Bank of India, a financial creditor of M/s Jupiter Leys Private Limited (the Corporate Debtor), seeking direction for the 2nd Respondent to affirm a resolution in the 3rd CoC for appointing Mr. V Duraisamy as the Resolution Professional. The Corporate Debtor was admitted into CIRP on 22.12.2023, and the 1st Respondent was appointed as the Interim Resolution Professional. The Applicant held a 59.36% vote share in the CoC, while the 2nd Respondent held 40.64%.
Central Bank of India, a financial creditor of M/s Jupiter Leys Private Limited, initiated proceedings under the Insolvency and Bankruptcy Code (IBC). The Corporate Debtor, M/s Jupiter Leys Private Limited, was admitted into CIRP on 22.12.2023. The 1st Respondent was appointed as the Interim Resolution Professional. The Applicant (Central Bank of India) held a 59.36% vote share in the CoC, while the 2nd Respondent held 40.64%. The Applicant's claim was classified as unsecured because the secured assets had been sold under the SARFAESI Act before the CIRP initiation. The Applicant proposed Mr. Fanendra H Munot and later Mr. V Duraisamy as Resolution Professionals, but both were opposed by the 2nd Respondent. The 2nd Respondent proposed Shri. Ravindra Beleyur. The
…The Tribunal admitted…
The 1st Respondent was…