On 05th March, 2024, Hon'ble NCLT Delhi Bench has initiated Corporate Insolvency Resolution Process (CIRP) and appointed Mr. Devvart Rana, as Interim Resolution Professional (IRP) of M/s Jasmine Buildmart Private Limited. Moratorium U/s 14 of Insolvency and Bankruptcy Code has been declared. Now the affairs, business, management and properties related to the Jasmine Buildmart Private Limited, would be managed by IRP/RP, as per IBC.
The IRP shall be collecting claims from creditors and run the insolvency process.
IRP has been confirmed as RP by NCLT order dated 23.04.2024
Powers of the Board of Directors is suspended during CIRP and same is exercised by the IRP/RP.
On 03rd November 2025 Hon’ble National Company Law Tribunal Kolkata Bench has appointed Sumit Sharma as the Resolution Professional (RP) for conducting and overseeing the Corporate Insolvency Resolution Process. Sumit Sharma has assumed charge with effect from 13-11-2025, and all subsequent communications, filings, and coordination relating to the CIRP shall be undertaken by him in accordance with the Insolvency and Bankruptcy Code, 2016 and the regulations framed thereunder.
Powers of the Board of Directors is suspended during CIRP and the same is exercised by the RP.
