The application was filed by the Resolution Professional, Dr. Bankim Shukla, of Plutus Infraventures Private Limited, seeking liquidation due to the non-receipt of a resolution plan under Section 33 of the IBC, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor under Section 7 of IBC, 2016, and was admitted on 15.03.2022. Initial steps included public announcements and constitution of the Committee of Creditors (CoC). Several CoC meetings were held, and the applicant called for Expression of Interest (EOI) but received no response. The Resolution Professional also filed applications regarding the cooperation of the suspended board of directors and fraudulent transactions. The CoC unanimously decided to file an
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Plutus Infraventures Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and was admitted on 15.03.2022. Mr. Pankaj Khaitan was initially appointed as the Interim Resolution Professional (IRP). Public announcements were made, and the IRP received claims from Punjab National Bank, the Financial Creditor. The IRP verified and admitted the claims and constituted a Committee of Creditors (CoC) comprising the sole member. Several CoC meetings were held, and the applicant called for Expression of Interest (EOI) but received no response. The Resolution Professional also filed applications regarding the cooperation of the suspended board of directors and fraudulent
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The Corporate Insolvency Resolution Process…
Public announcement of…
The application was filed by the Resolution Professional, Dr. Bankim Shukla, of Plutus Infraventures Private Limited, seeking liquidation due to the non-receipt of a resolution plan under Section 33 of the IBC, 2016. The Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor under Section 7 of IBC, 2016, and was admitted on 15.03.2022. Initial steps included public announcements and constitution of the Committee of Creditors (CoC). Several CoC meetings were held, and the applicant called for Expression of Interest (EOI) but received no response. The Resolution Professional also filed applications regarding the cooperation of the suspended board of directors and fraudulent transactions. The CoC unanimously decided to file an
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Plutus Infraventures Private Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016, and was admitted on 15.03.2022. Mr. Pankaj Khaitan was initially appointed as the Interim Resolution Professional (IRP). Public announcements were made, and the IRP received claims from Punjab National Bank, the Financial Creditor. The IRP verified and admitted the claims and constituted a Committee of Creditors (CoC) comprising the sole member. Several CoC meetings were held, and the applicant called for Expression of Interest (EOI) but received no response. The Resolution Professional also filed applications regarding the cooperation of the suspended board of directors and fraudulent
…The Corporate Insolvency Resolution Process…
Public announcement of…