The case involves an application (IA 2897/MB-IV/2022) filed in CP (IB) No.1224/MB-IV/2019 under Section 30 of the Insolvency and Bankruptcy Code (IBC), 2016. The application seeks approval of a Resolution Plan filed by Besto Trademark Limited for the Corporate Debtor, Shop CJ Network Private Limited. The Resolution Plan was approved by 100% vote of the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by a Financial Creditor, leading to the appointment of an Interim Resolution Professional (IRP) and subsequently the Applicant as the Resolution Professional (RP). The RP then invited Resolution Plans and conducted CoC meetings to discuss and approve the submitted plans.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shop CJ Network Private Limited following the admission of a company petition filed by a Financial Creditor. Mr. Sanjay Shrivastava was initially appointed as the Interim Resolution Professional (IRP), and subsequently, Mr. Darshan Bharatbhai Patel was appointed as the Resolution Professional (RP). The RP invited Resolution Plans and conducted several meetings of the Committee of Creditors (CoC). A forensic audit was conducted to investigate past transactions of the Corporate Debtor. The CoC rejected a resolution plan submitted by Sheth Capital Services Private Limited due to non-compliance with Section 30(2) of the IBC. The RP presented a Resolution Plan submitted by Besto Tradelink Limited,
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CP (IB) No.1224/MB-IV/20…
The Tribunal admitted…
The case involves an application (IA 2897/MB-IV/2022) filed in CP (IB) No.1224/MB-IV/2019 under Section 30 of the Insolvency and Bankruptcy Code (IBC), 2016. The application seeks approval of a Resolution Plan filed by Besto Trademark Limited for the Corporate Debtor, Shop CJ Network Private Limited. The Resolution Plan was approved by 100% vote of the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated following a petition filed by a Financial Creditor, leading to the appointment of an Interim Resolution Professional (IRP) and subsequently the Applicant as the Resolution Professional (RP). The RP then invited Resolution Plans and conducted CoC meetings to discuss and approve the submitted plans.
The Corporate Insolvency Resolution Process (CIRP) was initiated against Shop CJ Network Private Limited following the admission of a company petition filed by a Financial Creditor. Mr. Sanjay Shrivastava was initially appointed as the Interim Resolution Professional (IRP), and subsequently, Mr. Darshan Bharatbhai Patel was appointed as the Resolution Professional (RP). The RP invited Resolution Plans and conducted several meetings of the Committee of Creditors (CoC). A forensic audit was conducted to investigate past transactions of the Corporate Debtor. The CoC rejected a resolution plan submitted by Sheth Capital Services Private Limited due to non-compliance with Section 30(2) of the IBC. The RP presented a Resolution Plan submitted by Besto Tradelink Limited,
…CP (IB) No.1224/MB-IV/20…
The Tribunal admitted…