The Corporate Insolvency Resolution Process (CIRP) for Basantar Breweries Private Limited was initiated on September 9, 2024, following a petition by Jammu & Kashmir Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. AVM Resolution Professionals LLP was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). Jammu & Kashmir Bank was the sole Financial Creditor and held 100% voting share in the CoC. Throughout the CIRP, the suspended directors of the Corporate Debtor exhibited non-cooperation by denying possession of factory premises, refusing to hand over records, and restarting production in violation of the moratorium imposed under Section 14 of

The Corporate Insolvency Resolution Process (CIRP) for Basantar Breweries Private Limited was initiated on September 9, 2024, following a petition by Jammu & Kashmir Bank under Section 7 of the Insolvency and Bankruptcy Code, 2016. AVM Resolution Professionals LLP was appointed as the Interim Resolution Professional (IRP) and subsequently confirmed as the Resolution Professional (RP) by the Committee of Creditors (CoC). Jammu & Kashmir Bank was the sole Financial Creditor and held 100% voting share in the CoC. Throughout the CIRP, the suspended directors of the Corporate Debtor exhibited non-cooperation by denying possession of factory premises, refusing to hand over records, and restarting production in violation of the moratorium imposed under Section 14 of