The application IA (IBC) No. 587/JPR/2022 was filed for seeking approval for the liquidation of the Corporate Debtor, M/s Ajit Solar Pvt. Ltd., under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had admitted an application filed by M/s JFC Finance (India) Pvt. Ltd. under Section 7 of the Code for initiating CIRP against M/s Ajit Solar Pvt. Ltd. Mr. Sandeep Kumar Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The RP invited Expressions of Interest (EOI) from Prospective Resolution Applicants (PRA), but the eligible PRAs failed to submit a Resolution Plan. The Financial Creditor resolved to initiate liquidation proceedings. The erstwhile RP expressed his inability
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Ajit Solar Private Limited based on an application filed by JFC Finance (India) Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Sandeep Kumar Gupta was initially appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP invited Expressions of Interest (EOI) from Prospective Resolution Applicants (PRAs), receiving four EOIs initially and later seven EOIs after a second attempt. However, no eligible PRA submitted a resolution plan within the extended timeline. The Committee of Creditors (CoC) resolved to initiate liquidation proceedings. Devendra Singh was appointed as the RP. The RP conducted several CoC
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The Adjudicating Authority admitted the…
The Financial Creditor resolved to initiate the…
The application IA (IBC) No. 587/JPR/2022 was filed for seeking approval for the liquidation of the Corporate Debtor, M/s Ajit Solar Pvt. Ltd., under Section 33 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority had admitted an application filed by M/s JFC Finance (India) Pvt. Ltd. under Section 7 of the Code for initiating CIRP against M/s Ajit Solar Pvt. Ltd. Mr. Sandeep Kumar Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional. The RP invited Expressions of Interest (EOI) from Prospective Resolution Applicants (PRA), but the eligible PRAs failed to submit a Resolution Plan. The Financial Creditor resolved to initiate liquidation proceedings. The erstwhile RP expressed his inability
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Ajit Solar Private Limited based on an application filed by JFC Finance (India) Pvt. Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Sandeep Kumar Gupta was initially appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). The RP invited Expressions of Interest (EOI) from Prospective Resolution Applicants (PRAs), receiving four EOIs initially and later seven EOIs after a second attempt. However, no eligible PRA submitted a resolution plan within the extended timeline. The Committee of Creditors (CoC) resolved to initiate liquidation proceedings. Devendra Singh was appointed as the RP. The RP conducted several CoC
…The Adjudicating Authority admitted the…
The Financial Creditor resolved to initiate the…