The case involves two appeals filed by the SRA and the Resolution Professional challenging an order by the Adjudicating Authority dated 2024-09-27. The Adjudicating Authority rejected a plan approval application and directed liquidation because the resolution process was not completed within the timeline directed by an order dated 2023-11-08. The appellant's counsel argues that the plan was approved by the CoC on 2021-08-03, and an application (IA No.638 of 2021) was filed for plan approval on 2021-08-19. The Adjudicating Authority remanded the matter to the CoC for considering distribution on 2023-11-08. The Resolution Professional completed the process and filed an application on 2024-03-04, which was not listed, leading to a fresh application on 2024-07-05. The
…Lorenzo Vitrified Tiles Pvt. Ltd. and Arvind Gaudana Erstwhile RP of Vrundavan Ceramic Pvt. Ltd. filed appeals against the Committee of Creditors of Vrundavan Ceramic Pvt. Ltd. & Ors. The Adjudicating Authority rejected a plan approval application and directed liquidation on 2024-09-27, citing the resolution process not being completed within the timeline directed by the order dated 2023-11-08. The plan was initially approved by the CoC on 2021-08-03, and an application for approval was filed on 2021-08-19. The Adjudicating Authority remanded the matter to the CoC on 2023-11-08. The Resolution Professional filed an application on 2024-03-04, which was not listed, leading to a fresh application on 2024-07-05. The Resolution Professional also filed an affidavit
…Sign in to view the parties.
The resolution plan was…
IA No.638 of 2021 was…
Sign in to view related legal provisions.
The case involves two appeals filed by the SRA and the Resolution Professional challenging an order by the Adjudicating Authority dated 2024-09-27. The Adjudicating Authority rejected a plan approval application and directed liquidation because the resolution process was not completed within the timeline directed by an order dated 2023-11-08. The appellant's counsel argues that the plan was approved by the CoC on 2021-08-03, and an application (IA No.638 of 2021) was filed for plan approval on 2021-08-19. The Adjudicating Authority remanded the matter to the CoC for considering distribution on 2023-11-08. The Resolution Professional completed the process and filed an application on 2024-03-04, which was not listed, leading to a fresh application on 2024-07-05. The
…Lorenzo Vitrified Tiles Pvt. Ltd. and Arvind Gaudana Erstwhile RP of Vrundavan Ceramic Pvt. Ltd. filed appeals against the Committee of Creditors of Vrundavan Ceramic Pvt. Ltd. & Ors. The Adjudicating Authority rejected a plan approval application and directed liquidation on 2024-09-27, citing the resolution process not being completed within the timeline directed by the order dated 2023-11-08. The plan was initially approved by the CoC on 2021-08-03, and an application for approval was filed on 2021-08-19. The Adjudicating Authority remanded the matter to the CoC on 2023-11-08. The Resolution Professional filed an application on 2024-03-04, which was not listed, leading to a fresh application on 2024-07-05. The Resolution Professional also filed an affidavit
…The resolution plan was…
IA No.638 of 2021 was…
Sign in to view related legal provisions.