The case involves an appeal against an order dated 14.05.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, regarding the Corporate Insolvency Resolution Process (CIRP) of 'Unijules Life Sciences Limited'. The CIRP was initiated on 08.03.2019. The appellant, Adroit Pharmaceuticals Pvt. Ltd., submitted a resolution plan that was initially approved on 30.12.2019. However, an unsecured financial creditor filed IA No.1434 of 2020 seeking a direction for the valuation of intangible assets. The Adjudicating Authority allowed this application on 04.08.2023 and directed the Resolution Professional to engage a valuer. The appellant filed IA No.1891 of 2024 seeking to improve the resolution plan, which was dismissed by the Adjudicating
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Unijules Life Sciences Limited on 08.03.2019. Adroit Pharmaceuticals Pvt. Ltd. submitted a resolution plan, which was initially approved on 30.12.2019 with a 75.49% voting share. An unsecured financial creditor filed IA No.1434 of 2020, seeking a direction for the valuation of intangible assets. The Adjudicating Authority allowed IA No.1434 on 04.08.2023, directing the Resolution Professional to engage a valuer for the intangible assets. The appellant, Adroit Pharmaceuticals, filed IA No.1891 of 2024 on 18.04.2024 to improve the resolution plan. Valuation reports were received on 04.01.2024 and 05.01.2024. The CoC rejected the appellant's revised offer in its 22nd meeting on 07.03.2024. The
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CIRP against Unijules…
Resolution Professional…
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The case involves an appeal against an order dated 14.05.2024 passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, regarding the Corporate Insolvency Resolution Process (CIRP) of 'Unijules Life Sciences Limited'. The CIRP was initiated on 08.03.2019. The appellant, Adroit Pharmaceuticals Pvt. Ltd., submitted a resolution plan that was initially approved on 30.12.2019. However, an unsecured financial creditor filed IA No.1434 of 2020 seeking a direction for the valuation of intangible assets. The Adjudicating Authority allowed this application on 04.08.2023 and directed the Resolution Professional to engage a valuer. The appellant filed IA No.1891 of 2024 seeking to improve the resolution plan, which was dismissed by the Adjudicating
…The Corporate Insolvency Resolution Process (CIRP) was initiated against Unijules Life Sciences Limited on 08.03.2019. Adroit Pharmaceuticals Pvt. Ltd. submitted a resolution plan, which was initially approved on 30.12.2019 with a 75.49% voting share. An unsecured financial creditor filed IA No.1434 of 2020, seeking a direction for the valuation of intangible assets. The Adjudicating Authority allowed IA No.1434 on 04.08.2023, directing the Resolution Professional to engage a valuer for the intangible assets. The appellant, Adroit Pharmaceuticals, filed IA No.1891 of 2024 on 18.04.2024 to improve the resolution plan. Valuation reports were received on 04.01.2024 and 05.01.2024. The CoC rejected the appellant's revised offer in its 22nd meeting on 07.03.2024. The
…CIRP against Unijules…
Resolution Professional…
Sign in to view related legal provisions.