The appeal challenges the Adjudicating Authority's order rejecting the Resolution Professional's application to issue a fresh Form G to invite new Expression of Interest (EoI) while retaining existing Resolution Applicants.
The CIRP process for the Corporate Debtor commenced on 01.01.2021.
The first Form G was issued on 24.08.2021, and 9 Prospective Resolution Applicants submitted their Expression of Interest.
The CoC extended the last date for submission of Resolution Plans to 04.06.2024, and 5 Resolution Applicants submitted plans.
The Plan submitted by M/s. Medha Servo Drives Private Limited was approved by CoC with 100% voting in favor.
The CoC resolved to withdraw the Plan approval application and undertake a challenge mechanism process.
The Resolution Professional filed IA No. 388/2025, seeking limited reopening of the Bidding process, which was rejected by the Adjudicating Authority.
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The CIRP process of the…
The First Form G was issued on 24.08.2021,…
The appeal challenges the Adjudicating Authority's order rejecting the Resolution Professional's application to issue a fresh Form G to invite new Expression of Interest (EoI) while retaining existing Resolution Applicants.
The CIRP process for the Corporate Debtor commenced on 01.01.2021.
The first Form G was issued on 24.08.2021, and 9 Prospective Resolution Applicants submitted their Expression of Interest.
The CoC extended the last date for submission of Resolution Plans to 04.06.2024, and 5 Resolution Applicants submitted plans.
The Plan submitted by M/s. Medha Servo Drives Private Limited was approved by CoC with 100% voting in favor.
The CoC resolved to withdraw the Plan approval application and undertake a challenge mechanism process.
The Resolution Professional filed IA No. 388/2025, seeking limited reopening of the Bidding process, which was rejected by the Adjudicating Authority.
…The CIRP process of the…
The First Form G was issued on 24.08.2021,…