The case involves an application filed by Mr. Yatin Jindal, a Financial Creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against Pomergranate Coaters Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the application on 2023-09-15 and declared a moratorium, appointing Mr. Vinay Kumar Singhal as the Interim Resolution Professional (IRP). Subsequently, Mr. Singhal was confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The CoC, in its meetings, discussed various issues, including a proposal to change the IRP, which led to the appointment of Mr. Devendra Umrao as the RP. However, the CoC ultimately decided to liquidate the Corporate
…Mr. Yatin Jindal, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Pomergranate Coaters Private Limited (Corporate Debtor) under Section 7 of the IBC. The Adjudicating Authority admitted the application on 2023-09-15, declaring a moratorium and appointing Mr. Vinay Kumar Singhal as the Interim Resolution Professional (IRP). Mr. Singhal was later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The first CoC meeting was held on 2023-10-21. A proposal was raised to change the IRP, leading to the appointment of Mr. Devendra Umrao as the RP. The Applicant/RP proposed resolutions in the second CoC meeting dated 2024-02-05 to invite Expression of Interest (EOI) from prospective Resolution Applicants,
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The case involves an application filed by Mr. Yatin Jindal, a Financial Creditor, to initiate Corporate Insolvency Resolution Process (CIRP) against Pomergranate Coaters Private Limited, the Corporate Debtor, under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Adjudicating Authority admitted the application on 2023-09-15 and declared a moratorium, appointing Mr. Vinay Kumar Singhal as the Interim Resolution Professional (IRP). Subsequently, Mr. Singhal was confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The CoC, in its meetings, discussed various issues, including a proposal to change the IRP, which led to the appointment of Mr. Devendra Umrao as the RP. However, the CoC ultimately decided to liquidate the Corporate
…Mr. Yatin Jindal, the Financial Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against Pomergranate Coaters Private Limited (Corporate Debtor) under Section 7 of the IBC. The Adjudicating Authority admitted the application on 2023-09-15, declaring a moratorium and appointing Mr. Vinay Kumar Singhal as the Interim Resolution Professional (IRP). Mr. Singhal was later confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). The first CoC meeting was held on 2023-10-21. A proposal was raised to change the IRP, leading to the appointment of Mr. Devendra Umrao as the RP. The Applicant/RP proposed resolutions in the second CoC meeting dated 2024-02-05 to invite Expression of Interest (EOI) from prospective Resolution Applicants,
…The Adjudicating Authority admitted the…
The first meeting of…