The application I.A. No. 1682 of 2021 was filed by the Resolution Professional, Mr. Mayank Rameshchandra Jain, seeking liquidation of Panache Exports Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 7 of the Code filed by Oriental Bank of Commerce (now Punjab National Bank), the Financial Creditor. Public announcements were made to invite claims from creditors, and the Committee of Creditors (CoC) was formed, appointing the applicant as the RP. Despite efforts to find a resolution plan, including multiple invitations for Expression of Interest (EOI), no viable resolution plan was received.
The Resolution Professional, Mr. Mayank Rameshchandra Jain, filed an application (I.A. No. 1682 of 2021) seeking the liquidation of Panache Exports Private Limited (Corporate Debtor) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 7 of the Code filed by Oriental Bank of Commerce (now Punjab National Bank), the Financial Creditor, on 25.11.2019. Public announcements were made on 28.11.2019, inviting claims from creditors, with a deadline of 11.12.2019. The first meeting of the Committee of Creditors (CoC) took place on 27.12.2019, where the applicant was appointed as the RP. The CoC approved the publication of an Invitation for Expression
…Sign in to view the parties.
The Tribunal admitted the petition under…
A public announcement…
The application I.A. No. 1682 of 2021 was filed by the Resolution Professional, Mr. Mayank Rameshchandra Jain, seeking liquidation of Panache Exports Private Limited, the Corporate Debtor, under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 7 of the Code filed by Oriental Bank of Commerce (now Punjab National Bank), the Financial Creditor. Public announcements were made to invite claims from creditors, and the Committee of Creditors (CoC) was formed, appointing the applicant as the RP. Despite efforts to find a resolution plan, including multiple invitations for Expression of Interest (EOI), no viable resolution plan was received.
The Resolution Professional, Mr. Mayank Rameshchandra Jain, filed an application (I.A. No. 1682 of 2021) seeking the liquidation of Panache Exports Private Limited (Corporate Debtor) under Section 33(2) of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated following the admission of a petition under Section 7 of the Code filed by Oriental Bank of Commerce (now Punjab National Bank), the Financial Creditor, on 25.11.2019. Public announcements were made on 28.11.2019, inviting claims from creditors, with a deadline of 11.12.2019. The first meeting of the Committee of Creditors (CoC) took place on 27.12.2019, where the applicant was appointed as the RP. The CoC approved the publication of an Invitation for Expression
…The Tribunal admitted the petition under…
A public announcement…