The case pertains to an application filed by the Resolution Professional (RP) for the liquidation of the Corporate Debtor, Turning Point Estate Private Limited. An order was previously passed by the Tribunal on January 10, 2020, under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Turning Point Estate Private Limited, filed by the Financial Creditor JM Financial ARC. During the CIRP, the applicant received claims from various creditors. Several Committee of Creditors (CoC) meetings were held to discuss the resolution process, including the publication of Form G for inviting Expression of Interest. However, no resolution plan was received, leading the CoC to resolve for the liquidation of the
…On January 10, 2020, an order was passed under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating CIRP against Turning Point Estate Private Limited (the Corporate Debtor) based on an application by JM Financial ARC (Financial Creditor). A public announcement was made on January 15, 2020. The applicant received claims from creditors during the CIRP. Secured financial creditors included JM Financial ARC Limited (PNB Loan Assigned), JM Financial ARC Limited (UCO Loan Assigned), and JM Financial ARC Limited (IOB Loan Assigned), with admitted claims totaling INR 1,91,73,61,434. An operational creditor, Gahlot and Sons, submitted a claim of Rs. 2,32,09,258, with Rs. 76,56,427 admitted and Rs. 1,55,52,831 under verification. Several CoC meetings were held on
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The case pertains to an application filed by the Resolution Professional (RP) for the liquidation of the Corporate Debtor, Turning Point Estate Private Limited. An order was previously passed by the Tribunal on January 10, 2020, under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Turning Point Estate Private Limited, filed by the Financial Creditor JM Financial ARC. During the CIRP, the applicant received claims from various creditors. Several Committee of Creditors (CoC) meetings were held to discuss the resolution process, including the publication of Form G for inviting Expression of Interest. However, no resolution plan was received, leading the CoC to resolve for the liquidation of the
…On January 10, 2020, an order was passed under Section 7 of the Insolvency and Bankruptcy Code, 2016, initiating CIRP against Turning Point Estate Private Limited (the Corporate Debtor) based on an application by JM Financial ARC (Financial Creditor). A public announcement was made on January 15, 2020. The applicant received claims from creditors during the CIRP. Secured financial creditors included JM Financial ARC Limited (PNB Loan Assigned), JM Financial ARC Limited (UCO Loan Assigned), and JM Financial ARC Limited (IOB Loan Assigned), with admitted claims totaling INR 1,91,73,61,434. An operational creditor, Gahlot and Sons, submitted a claim of Rs. 2,32,09,258, with Rs. 76,56,427 admitted and Rs. 1,55,52,831 under verification. Several CoC meetings were held on
…An order was passed by the Tribunal under…
Public announcement was…