Gogia Leasing vs JBO Globeworld: NCLT Delhi Approves Resolution Plan

Gogia Leasing Limited Vs JBO Globeworld LLP (NCLT Delhi) Introduction: The National Company Law Tribunal (NCLT) Delhi recently approved the resolution plan submitted by Mr. Hemant Jindal for JBO Globeworld LLP. The application, filed under the Insolvency & Bankruptcy Code, sought approval for the plan that secured unanimous support from the Committee of Creditors (CoC). Detailed Analysis: 1. Initiation of Corporate Insolvency Resolution Process (CIRP): The CIRP against JBO Globeworld LLP began on 22.07.2022, with Mr. Sanjay Garg appointed as the Resolution Professional (RP). The COC, comp...