The case involves a challenge to the constitutional validity of Section 8 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019, which inserted an Explanation to sub-section (2) of Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, a shareholder and suspended director of Sujyot Infrastructure Pvt. Ltd. (the Corporate Debtor), contested the decision of the Committee of Creditors (COC) to liquidate the Corporate Debtor without exploring revival possibilities. The Insolvency Application being CP (IB) No.559 of 2019, filed against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016, the Corporate Insolvency Resolution Process (‘CIRP') has been initiated by the Adjudicating Authority (NCLT, Ahmedabad). The
…The petitioner, a shareholder and suspended director of M/s. Sujyot Infrastructure Pvt. Ltd., challenged the decision of the Committee of Creditors (COC) to liquidate the Corporate Debtor. The Insolvency Application being CP (IB) No.559 of 2019, filed against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016, the Corporate Insolvency Resolution Process (‘CIRP') has been initiated by the Adjudicating Authority (NCLT, Ahmedabad). The Committee of Creditors (COC) was constituted on 22.12.2021 comprising of State Bank of India and Bank of Baroda. The first meeting of COC was convened on 1.2.2022. The COC decided to liquidate the Corporate Debtor despite a request made by the petitioner to explore the possibilities of its revival. The
…Sign in to view the parties.
Insolvency Application being CP (IB) No.559 of…
Order against the Corporate Debtor and an…
The case involves a challenge to the constitutional validity of Section 8 of the Insolvency and Bankruptcy Code (Amendment) Act, 2019, which inserted an Explanation to sub-section (2) of Section 33 of the Insolvency and Bankruptcy Code (IBC), 2016. The petitioner, a shareholder and suspended director of Sujyot Infrastructure Pvt. Ltd. (the Corporate Debtor), contested the decision of the Committee of Creditors (COC) to liquidate the Corporate Debtor without exploring revival possibilities. The Insolvency Application being CP (IB) No.559 of 2019, filed against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016, the Corporate Insolvency Resolution Process (‘CIRP') has been initiated by the Adjudicating Authority (NCLT, Ahmedabad). The
…The petitioner, a shareholder and suspended director of M/s. Sujyot Infrastructure Pvt. Ltd., challenged the decision of the Committee of Creditors (COC) to liquidate the Corporate Debtor. The Insolvency Application being CP (IB) No.559 of 2019, filed against the Corporate Debtor under Section 7 of the Insolvency and Bankruptcy Code, 2016, the Corporate Insolvency Resolution Process (‘CIRP') has been initiated by the Adjudicating Authority (NCLT, Ahmedabad). The Committee of Creditors (COC) was constituted on 22.12.2021 comprising of State Bank of India and Bank of Baroda. The first meeting of COC was convened on 1.2.2022. The COC decided to liquidate the Corporate Debtor despite a request made by the petitioner to explore the possibilities of its revival. The
…Insolvency Application being CP (IB) No.559 of…
Order against the Corporate Debtor and an…