Jinan K.R., Member - (1.) This is an application filed by Vivid Colours Pvt. Ltd., applicant/financial creditor under Sec.7 of the Insolvency and Bankruptcy Code, 2016 (in short, I 8s B Code, 2016) for initiating corporate insolvency resolution process read with Rule 4(1) of the Insolvency & Bankruptcy (Application to Adjudicating Authority) Rules, 2016 in respect of the corporate debtor, Jenson & Nicholson (India) Ltd. This application has been admitted vide order dated 7/8/2017.
(2.) Upon admission of the application Mr. Vinay Talwar was appointed as the Resolution Professional (RP) . In pursuance of the appointment he issued publication calling expression of interest and convened Committee of Creditors (COC) meeting and submitted altogether four progress report. Period of submission of resolution plan was expired on 2/2/2018 and 4th progress report was submitted by the RP on 2/2/2018. Ld. RP as well as Ld. Counsel for the corporate debtor and Ld. Counsel for the financial creditor was heard at length.
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