The case involves an appeal against the Adjudicating Authority's (National Company Law Tribunal) delay in deciding IA No. 102 of 2020. The Corporate Insolvency Resolution Process (CIRP) was initiated on March 8, 2019, and the Resolution Plan of Respondent No. 1 was approved by the Committee of Creditors (CoC). The appellant contends that the Erstwhile Promoter of the Corporate Debtor has been filing various applications to obstruct the proceedings, causing delays, exacerbated by the pandemic. The Resolution Applicant (Respondent No. 1) asserts having made substantial efforts and seeks prompt orders.
The Resolution Professional, Amit Chandrashekhar Poddar, representing Unijules Life Sciences Limited, filed an appeal. The Corporate Insolvency Resolution Process (CIRP) for Unijules Life Sciences Limited commenced on March 8, 2019. Adroit Pharmaceuticals Pvt. Ltd. is the Resolution Applicant. The Committee of Creditors (CoC), represented by Asset Reconstruction of India Ltd., approved a Resolution Plan submitted by Adroit Pharmaceuticals Pvt. Ltd. An application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, was filed on January 8, 2020, before the National Company Law Tribunal (NCLT), Mumbai. IA No. 102 of 2020, remains undecided by the Adjudicating Authority. The Erstwhile Promoters of the Corporate Debtor are allegedly filing applications to
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Corporate Insolvency Resolution Process…
Application under Section 30(6) of the…
The case involves an appeal against the Adjudicating Authority's (National Company Law Tribunal) delay in deciding IA No. 102 of 2020. The Corporate Insolvency Resolution Process (CIRP) was initiated on March 8, 2019, and the Resolution Plan of Respondent No. 1 was approved by the Committee of Creditors (CoC). The appellant contends that the Erstwhile Promoter of the Corporate Debtor has been filing various applications to obstruct the proceedings, causing delays, exacerbated by the pandemic. The Resolution Applicant (Respondent No. 1) asserts having made substantial efforts and seeks prompt orders.
The Resolution Professional, Amit Chandrashekhar Poddar, representing Unijules Life Sciences Limited, filed an appeal. The Corporate Insolvency Resolution Process (CIRP) for Unijules Life Sciences Limited commenced on March 8, 2019. Adroit Pharmaceuticals Pvt. Ltd. is the Resolution Applicant. The Committee of Creditors (CoC), represented by Asset Reconstruction of India Ltd., approved a Resolution Plan submitted by Adroit Pharmaceuticals Pvt. Ltd. An application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016, was filed on January 8, 2020, before the National Company Law Tribunal (NCLT), Mumbai. IA No. 102 of 2020, remains undecided by the Adjudicating Authority. The Erstwhile Promoters of the Corporate Debtor are allegedly filing applications to
…Corporate Insolvency Resolution Process…
Application under Section 30(6) of the…