The case involves an appeal against an order dated October 24, 2018, initiating a Corporate Insolvency Resolution Process (CIRP) against 'Alok Infrastructure Ltd.' (Subsidiary Company). A separate CIRP had already been initiated against 'Alok Industries Ltd.' (Holding Company). Another CIRP was initiated against 'Alok Infrastructure Ltd.' pursuant to an application by another financial creditor. The appellant, 'Mr. Ashok B. Jiwrajka', Director of 'Alok Infrastructure Ltd.', preferred this appeal.
A Corporate Insolvency Resolution Process (CIRP) was initiated against 'Alok Industries Ltd.' (Holding Company). Subsequently, another CIRP was initiated against 'Alok Infrastructure Ltd.' (Subsidiary of Alok Industries Ltd.) based on an application by another financial creditor. 'Mr. Ashok B. Jiwrajka', Director of 'Alok Infrastructure Ltd.', filed an appeal against the order dated October 24, 2018, which initiated the CIRP against 'Alok Infrastructure Ltd.'. The appellant's counsel argued that the CIRP against 'Alok Infrastructure Ltd.' should be stayed until the CIRP against 'Alok Industries Ltd.' is decided under Section 31. A resolution plan for 'Alok Industries Ltd.' has been approved and placed before the Adjudicating Authority in July 2018, but no decision has
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Order passed initiating Corporate…
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The case involves an appeal against an order dated October 24, 2018, initiating a Corporate Insolvency Resolution Process (CIRP) against 'Alok Infrastructure Ltd.' (Subsidiary Company). A separate CIRP had already been initiated against 'Alok Industries Ltd.' (Holding Company). Another CIRP was initiated against 'Alok Infrastructure Ltd.' pursuant to an application by another financial creditor. The appellant, 'Mr. Ashok B. Jiwrajka', Director of 'Alok Infrastructure Ltd.', preferred this appeal.
A Corporate Insolvency Resolution Process (CIRP) was initiated against 'Alok Industries Ltd.' (Holding Company). Subsequently, another CIRP was initiated against 'Alok Infrastructure Ltd.' (Subsidiary of Alok Industries Ltd.) based on an application by another financial creditor. 'Mr. Ashok B. Jiwrajka', Director of 'Alok Infrastructure Ltd.', filed an appeal against the order dated October 24, 2018, which initiated the CIRP against 'Alok Infrastructure Ltd.'. The appellant's counsel argued that the CIRP against 'Alok Infrastructure Ltd.' should be stayed until the CIRP against 'Alok Industries Ltd.' is decided under Section 31. A resolution plan for 'Alok Industries Ltd.' has been approved and placed before the Adjudicating Authority in July 2018, but no decision has
…Order passed initiating Corporate…
Resolution plan for…