The case involves an appeal against an order where the appellant's claim was rejected during the Corporate Insolvency Resolution Process (CIRP) of Rishi Ganga Power Corporation Ltd. The appellant, Anju Industries, filed its claim with the Resolution Professional after the Resolution Plan had already been approved by the Successful Resolution Applicant and was pending consideration before the Adjudicating Authority. The Adjudicating Authority directed that the application be treated as a representation to be decided by the Monitoring Agency. Subsequently, the Supervising Agency communicated that the Resolution Plan earmarked funds for local area Operational Creditors, but the Appellant did not fall into that category, leading to the rejection of the claim.
Anju Industries, through its proprietor Sanjeev Verma, filed a claim during the Corporate Insolvency Resolution Process (CIRP) of Rishi Ganga Power Corporation Ltd. The claim was submitted to the Resolution Professional on 2018-10-26, after the Resolution Plan had already been approved by the Successful Resolution Applicant and was pending consideration before the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench. The Adjudicating Authority directed that the application be treated as a representation to be decided by the Monitoring Agency. The Supervising Agency communicated on 2019-05-09 that the Resolution Plan earmarked funds for local area Operational Creditors, but Anju Industries did not fall into that category, leading to the rejection of
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Appellant filed claim…
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The case involves an appeal against an order where the appellant's claim was rejected during the Corporate Insolvency Resolution Process (CIRP) of Rishi Ganga Power Corporation Ltd. The appellant, Anju Industries, filed its claim with the Resolution Professional after the Resolution Plan had already been approved by the Successful Resolution Applicant and was pending consideration before the Adjudicating Authority. The Adjudicating Authority directed that the application be treated as a representation to be decided by the Monitoring Agency. Subsequently, the Supervising Agency communicated that the Resolution Plan earmarked funds for local area Operational Creditors, but the Appellant did not fall into that category, leading to the rejection of the claim.
Anju Industries, through its proprietor Sanjeev Verma, filed a claim during the Corporate Insolvency Resolution Process (CIRP) of Rishi Ganga Power Corporation Ltd. The claim was submitted to the Resolution Professional on 2018-10-26, after the Resolution Plan had already been approved by the Successful Resolution Applicant and was pending consideration before the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench. The Adjudicating Authority directed that the application be treated as a representation to be decided by the Monitoring Agency. The Supervising Agency communicated on 2019-05-09 that the Resolution Plan earmarked funds for local area Operational Creditors, but Anju Industries did not fall into that category, leading to the rejection of
…Appellant filed claim…
Supervising Agency communicated that the…
Sign in to view related legal provisions.