The case involves an appeal against an order dated April 22, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad, which ordered the liquidation of Ind-Barath Power (Madras) Ltd. (Corporate Debtor). The appellant, a Resolution Applicant, filed the appeal. The Adjudicating Authority ordered liquidation after the resolution plans submitted by the Appellant were rejected by the Committee of Creditors for being unviable and infeasible, and more than 270 days had passed.
Alliance Projects filed an appeal against the order of the Adjudicating Authority (NCLT, Hyderabad Bench) dated April 22, 2019, which ordered the liquidation of Ind-Barath Power (Madras) Ltd. Alliance Projects was a Resolution Applicant. The resolution plans submitted by Alliance Projects were rejected by the Committee of Creditors (CoC) because they were deemed unviable and infeasible. The information memorandum was issued close to the completion of the 270-day period. More than 270 days had passed, leaving the Adjudicating Authority with no option but to order liquidation. The Appellate Tribunal considered the provisions of Section 230 of the Companies Act, 2013, and referred to previous judgments, including 'Y. Shivram Prasad vs. S. Dhanpal & Ors.' and 'S.C.
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The case involves an appeal against an order dated April 22, 2019, passed by the Adjudicating Authority (National Company Law Tribunal), Hyderabad Bench, Hyderabad, which ordered the liquidation of Ind-Barath Power (Madras) Ltd. (Corporate Debtor). The appellant, a Resolution Applicant, filed the appeal. The Adjudicating Authority ordered liquidation after the resolution plans submitted by the Appellant were rejected by the Committee of Creditors for being unviable and infeasible, and more than 270 days had passed.
Alliance Projects filed an appeal against the order of the Adjudicating Authority (NCLT, Hyderabad Bench) dated April 22, 2019, which ordered the liquidation of Ind-Barath Power (Madras) Ltd. Alliance Projects was a Resolution Applicant. The resolution plans submitted by Alliance Projects were rejected by the Committee of Creditors (CoC) because they were deemed unviable and infeasible. The information memorandum was issued close to the completion of the 270-day period. More than 270 days had passed, leaving the Adjudicating Authority with no option but to order liquidation. The Appellate Tribunal considered the provisions of Section 230 of the Companies Act, 2013, and referred to previous judgments, including 'Y. Shivram Prasad vs. S. Dhanpal & Ors.' and 'S.C.
…The Adjudicating Authority (National Company…
The Appellant, one of the ‘Resolution…
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