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Jain Studios: Corporate Insolvency Resolution Process (CIRP)-Admission of application by Tribunal

Dear Sir/Maam

This is to bring to your kind knowledge that the Honble National Company Law Tribunal (NCLT) New Delhi Special bench vide its order dated 26.02.2020 has admitted the Company petition No. (IB)-244(PB)/2019 under section 7 of the Insolvency and Bankruptcy Code 2016 (Code) filed by financial creditor Stressed Asset Stabilization Fund (SASF) for default of an amount of Rs. 445 39 17 963/- and initiated the Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code 2016 and I Manish Agarwal (IP Registration no. IBBI/IPA-002/IP-N00223/2017-18/10904) has been appointed as the Interim Resolution Professional (IRP) with effect from 26.02.2020. A copy of order dated 26.02.2020 is annexed herewith as ANNEXURE -A.