The case involves Ultratech Nathdwara Cement Ltd., a subsidiary of UltraTech Cement Limited, challenging a demand notice issued by the State of Rajasthan. The company participated in the Corporate Insolvency Resolution Process (CIRP) of Binani Cement Ltd., whose debts to the Bank of Baroda led to an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. Ultratech's resolution plan was approved by the Committee of Creditors and the NCLAT. The State of Rajasthan issued a demand notice for dues, which Ultratech challenged, arguing it contravened the approved resolution plan.
Ultratech Nathdwara Cement Ltd. is a subsidiary of UltraTech Cement Limited. Binani Cement Ltd. was unable to pay its debts to the Bank of Baroda, leading the bank to file an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT) admitted the application, initiating the Corporate Insolvency Resolution Process (CIRP). Ultratech participated in the CIRP, and its resolution plan was approved by the Committee of Creditors and the National Company Law Appellate Tribunal (NCLAT) on 2018-11-14. The Supreme Court upheld the NCLAT's order. The State of Rajasthan issued a demand notice to Ultratech for dues. Ultratech challenged the demand notice, arguing it violated the approved resolution plan. The demand notice was
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The case involves Ultratech Nathdwara Cement Ltd., a subsidiary of UltraTech Cement Limited, challenging a demand notice issued by the State of Rajasthan. The company participated in the Corporate Insolvency Resolution Process (CIRP) of Binani Cement Ltd., whose debts to the Bank of Baroda led to an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. Ultratech's resolution plan was approved by the Committee of Creditors and the NCLAT. The State of Rajasthan issued a demand notice for dues, which Ultratech challenged, arguing it contravened the approved resolution plan.
Ultratech Nathdwara Cement Ltd. is a subsidiary of UltraTech Cement Limited. Binani Cement Ltd. was unable to pay its debts to the Bank of Baroda, leading the bank to file an application under Section 7 of the Insolvency & Bankruptcy Code, 2016. The National Company Law Tribunal (NCLT) admitted the application, initiating the Corporate Insolvency Resolution Process (CIRP). Ultratech participated in the CIRP, and its resolution plan was approved by the Committee of Creditors and the National Company Law Appellate Tribunal (NCLAT) on 2018-11-14. The Supreme Court upheld the NCLAT's order. The State of Rajasthan issued a demand notice to Ultratech for dues. Ultratech challenged the demand notice, arguing it violated the approved resolution plan. The demand notice was
…The Insolven…
The National Company…
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