The case pertains to an application filed by the Resolution Professional of PJM Minerals and Industries Private Limited, seeking liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against PJM Minerals following a petition filed by AMC Chemicals Private Limited, an Operational Creditor, under Section 9 of the Code. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor due to the absence of any resolution plan. The CoC comprised a sole member, Cholamandalam Investment & Finance CO. Ltd. (CIFCL), which initially sought time due to a potential debt assignment to AMC Chemicals Private Limited but eventually did not participate in subsequent CoC meetings. The
…On 28.04.2023, the Company Petition C.P.(IB)/976(MB)2020 filed by AMC Chemicals Private Limited under Section 9 of the Insolvency and Bankruptcy Code was admitted, initiating the Corporate Insolvency Resolution Process (CIRP) against PJM Minerals and Industries Private Limited. Yatinkumar Sumatilal Shah was appointed as Interim Resolution Professional and later confirmed as Resolution Professional. The Form-A was published on 05.05.2023, inviting claims with a submission deadline of 18.05.2023. Form-G was published on 05.08.2023. The 6th CoC meeting on 20.10.2023 revealed that Cholamandalam Investment & Finance CO. Ltd. (CIFCL), the sole CoC member, was considering assigning debt to AMC Chemicals Private Limited and requested time. Subsequent CoC meetings on
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Company Petition…
Order passed admitting the Company Petition…
The case pertains to an application filed by the Resolution Professional of PJM Minerals and Industries Private Limited, seeking liquidation under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against PJM Minerals following a petition filed by AMC Chemicals Private Limited, an Operational Creditor, under Section 9 of the Code. The Committee of Creditors (CoC) resolved to liquidate the Corporate Debtor due to the absence of any resolution plan. The CoC comprised a sole member, Cholamandalam Investment & Finance CO. Ltd. (CIFCL), which initially sought time due to a potential debt assignment to AMC Chemicals Private Limited but eventually did not participate in subsequent CoC meetings. The
…On 28.04.2023, the Company Petition C.P.(IB)/976(MB)2020 filed by AMC Chemicals Private Limited under Section 9 of the Insolvency and Bankruptcy Code was admitted, initiating the Corporate Insolvency Resolution Process (CIRP) against PJM Minerals and Industries Private Limited. Yatinkumar Sumatilal Shah was appointed as Interim Resolution Professional and later confirmed as Resolution Professional. The Form-A was published on 05.05.2023, inviting claims with a submission deadline of 18.05.2023. Form-G was published on 05.08.2023. The 6th CoC meeting on 20.10.2023 revealed that Cholamandalam Investment & Finance CO. Ltd. (CIFCL), the sole CoC member, was considering assigning debt to AMC Chemicals Private Limited and requested time. Subsequent CoC meetings on
…Company Petition…
Order passed admitting the Company Petition…