The appeal was filed against the Adjudicating Authority's (National Company Law Tribunal) approval of a Resolution Plan for the Corporate Debtor, Reliance Infratel Limited. The Resolution Plan was approved on 19.01.2021, based on an order dated 3rd December, 2020, as it had been unanimously approved by the Committee of Creditors (COC). The appellant, Assets Care & Reconstruction Enterprise Limited, raised the issue that the Adjudicating Authority approved the Resolution Plan while withholding orders on an application filed by Doha Bank Q.P.S.C.
The Corporate Debtor, Reliance Infratel Limited, had its Resolution Plan approved by the Adjudicating Authority on 19.01.2021, based on an order dated 3rd December, 2020. The Resolution Plan received unanimous approval from the Committee of Creditors (COC). Assets Care & Reconstruction Enterprise Limited, a Financial Creditor, filed an appeal challenging the approval, arguing that the Adjudicating Authority withheld orders on an application by Doha Bank Q.P.S.C. while approving the Resolution Plan. Several IAs (1960 of 2019 and 3055 of 2019) assailing the decision of the Resolution Professional recognizing the indirect lenders of the Corporate Debtor as Financial Creditors were pending. The Adjudicating Authority was aware of these pending applications but
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Date of the impugned…
Resolution Plan qua the Corporate Debtor-…
The appeal was filed against the Adjudicating Authority's (National Company Law Tribunal) approval of a Resolution Plan for the Corporate Debtor, Reliance Infratel Limited. The Resolution Plan was approved on 19.01.2021, based on an order dated 3rd December, 2020, as it had been unanimously approved by the Committee of Creditors (COC). The appellant, Assets Care & Reconstruction Enterprise Limited, raised the issue that the Adjudicating Authority approved the Resolution Plan while withholding orders on an application filed by Doha Bank Q.P.S.C.
The Corporate Debtor, Reliance Infratel Limited, had its Resolution Plan approved by the Adjudicating Authority on 19.01.2021, based on an order dated 3rd December, 2020. The Resolution Plan received unanimous approval from the Committee of Creditors (COC). Assets Care & Reconstruction Enterprise Limited, a Financial Creditor, filed an appeal challenging the approval, arguing that the Adjudicating Authority withheld orders on an application by Doha Bank Q.P.S.C. while approving the Resolution Plan. Several IAs (1960 of 2019 and 3055 of 2019) assailing the decision of the Resolution Professional recognizing the indirect lenders of the Corporate Debtor as Financial Creditors were pending. The Adjudicating Authority was aware of these pending applications but
…Date of the impugned…
Resolution Plan qua the Corporate Debtor-…