Axis Bank Limited filed an appeal against an order dated 17.03.2021 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench-Court No. IV) in IA No. 456/2019 in CP (IB) No. 1059/ND/2018. The Adjudicating Authority had rejected the application filed by Axis Bank seeking directions against the Resolution Professional of Shubhkamna Buildtech Private Ltd. for admitting its claim in the Resolution Plan and to be treated as a secured Financial Creditor. Axis Bank claimed to have provided loans to homebuyers/allottees under the housing project of the Corporate Debtor and had submitted its claim in Form C on 31.12.2018, but it was allegedly not accepted.
Axis Bank Limited provided loans aggregating Rs. 30,58,22,625/- to certain homebuyers/allottees under the housing project of Shubhkamna Buildtech Private Limited (Corporate Debtor). The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was admitted on 26.11.2018. The Interim Resolution Professional (IRP) made a public announcement and invited claims, fixing the last date for filing claims as 12.01.2019. Axis Bank filed its claim in Form C on 31.12.2018 via email, followed by reminders. The IRP requested hard copies of the documents, but Axis Bank did not submit them. The IRP was later replaced by a Resolution Professional. Axis Bank inquired about the status of its claim on 01.07.2019, but the Resolution Professional stated that no claim had been
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Corporate Insolvency Resolution Process (CIRP)…
Axis Bank submitted its…
Axis Bank Limited filed an appeal against an order dated 17.03.2021 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench-Court No. IV) in IA No. 456/2019 in CP (IB) No. 1059/ND/2018. The Adjudicating Authority had rejected the application filed by Axis Bank seeking directions against the Resolution Professional of Shubhkamna Buildtech Private Ltd. for admitting its claim in the Resolution Plan and to be treated as a secured Financial Creditor. Axis Bank claimed to have provided loans to homebuyers/allottees under the housing project of the Corporate Debtor and had submitted its claim in Form C on 31.12.2018, but it was allegedly not accepted.
Axis Bank Limited provided loans aggregating Rs. 30,58,22,625/- to certain homebuyers/allottees under the housing project of Shubhkamna Buildtech Private Limited (Corporate Debtor). The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor was admitted on 26.11.2018. The Interim Resolution Professional (IRP) made a public announcement and invited claims, fixing the last date for filing claims as 12.01.2019. Axis Bank filed its claim in Form C on 31.12.2018 via email, followed by reminders. The IRP requested hard copies of the documents, but Axis Bank did not submit them. The IRP was later replaced by a Resolution Professional. Axis Bank inquired about the status of its claim on 01.07.2019, but the Resolution Professional stated that no claim had been
…Corporate Insolvency Resolution Process (CIRP)…
Axis Bank submitted its…