The case involves an application for the liquidation of Vipul S-Plastocrafts Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Trimurti Services, the Operational Creditor, which was admitted on 2019-03-11. Jovita Reema Mathias was appointed as the Interim Resolution Professional (IRP). The CIRP period was set to expire on 2019-09-06. The CoC did not approve a resolution plan within the CIRP period, nor could they resolve to extend the CIRP period by 90 days with the required voting share.
On 2019-03-11, the petition filed by Trimurti Services, the Operational Creditor, against Vipul S-Plastocrafts Private Limited, the Corporate Debtor, was admitted, initiating the CIRP. Jovita Reema Mathias was appointed as the Interim Resolution Professional (IRP). The publication occurred on 2019-03-15, informing the CoC about the Expressions of Interest (EOIs) received from prospective resolution applicants. The CIRP period was set to expire on 2019-09-06. The CoC failed to approve a resolution plan or extend the CIRP period by the required voting share. The Corporate Debtor continued operating as a going concern and even made a modest profit during the CIRP. The Applicant, Jovita Reema Mathias, expressed her inability to continue as the liquidator due to other
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Company Petit…
The Tribunal admitted…
The case involves an application for the liquidation of Vipul S-Plastocrafts Private Limited, the Corporate Debtor. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following a petition filed by Trimurti Services, the Operational Creditor, which was admitted on 2019-03-11. Jovita Reema Mathias was appointed as the Interim Resolution Professional (IRP). The CIRP period was set to expire on 2019-09-06. The CoC did not approve a resolution plan within the CIRP period, nor could they resolve to extend the CIRP period by 90 days with the required voting share.
On 2019-03-11, the petition filed by Trimurti Services, the Operational Creditor, against Vipul S-Plastocrafts Private Limited, the Corporate Debtor, was admitted, initiating the CIRP. Jovita Reema Mathias was appointed as the Interim Resolution Professional (IRP). The publication occurred on 2019-03-15, informing the CoC about the Expressions of Interest (EOIs) received from prospective resolution applicants. The CIRP period was set to expire on 2019-09-06. The CoC failed to approve a resolution plan or extend the CIRP period by the required voting share. The Corporate Debtor continued operating as a going concern and even made a modest profit during the CIRP. The Applicant, Jovita Reema Mathias, expressed her inability to continue as the liquidator due to other
…Company Petit…
The Tribunal admitted…