The case involves two appeals filed by the same Appellant challenging orders dated 12.02.2024 and 21.02.2024 passed by the Adjudicating Authority. The Adjudicating Authority had issued directions regarding the consideration of resolution plans for the Corporate Debtor, including those filed by B-RIGHT REALESTATE LTD and MGN Agro Properties Private Limited. The Appellant's case is that it underwent 33 rounds of bidding and was declared H1, and thereafter IA was filed by Patanjali Ayurveda Ltd. and other two applicants namely B-Right.
Ashdan Properties Pvt. Ltd. filed two appeals challenging orders passed by the Adjudicating Authority on February 12, 2024, and February 21, 2024. These orders pertained to the consideration of resolution plans for the Corporate Debtor. Ashdan Properties claimed to have undergone 33 rounds of bidding and was declared H1. Subsequently, Patanjali Ayurveda Ltd. and two other applicants filed IAs. The CoC resolved not to consider resolution plans from applicants not included in the final list of Prospective Resolution Applicants (PRAs) dated November 7, 2023. Patanjali and the other two applicants were not included in this list. The CoC filed an affidavit stating this decision. The appeals were filed because Ashdan Properties disagreed with the Adjudicating Authority's
…Sign in to view the parties.
The final list of…
One of the im…
Sign in to view related legal provisions.
The case involves two appeals filed by the same Appellant challenging orders dated 12.02.2024 and 21.02.2024 passed by the Adjudicating Authority. The Adjudicating Authority had issued directions regarding the consideration of resolution plans for the Corporate Debtor, including those filed by B-RIGHT REALESTATE LTD and MGN Agro Properties Private Limited. The Appellant's case is that it underwent 33 rounds of bidding and was declared H1, and thereafter IA was filed by Patanjali Ayurveda Ltd. and other two applicants namely B-Right.
Ashdan Properties Pvt. Ltd. filed two appeals challenging orders passed by the Adjudicating Authority on February 12, 2024, and February 21, 2024. These orders pertained to the consideration of resolution plans for the Corporate Debtor. Ashdan Properties claimed to have undergone 33 rounds of bidding and was declared H1. Subsequently, Patanjali Ayurveda Ltd. and two other applicants filed IAs. The CoC resolved not to consider resolution plans from applicants not included in the final list of Prospective Resolution Applicants (PRAs) dated November 7, 2023. Patanjali and the other two applicants were not included in this list. The CoC filed an affidavit stating this decision. The appeals were filed because Ashdan Properties disagreed with the Adjudicating Authority's
…The final list of…
One of the im…
Sign in to view related legal provisions.