This is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning the insolvency of Binani Industries Ltd. The appeal questions whether the Adjudicating Authority (National Company Law Tribunal) can reject a shareholder's offer to pay 100% of the credit amount to all creditors within two to four weeks. Rajputana Properties Private Limited, a resolution applicant, claims its resolution plan was improperly rejected.
Binani Industries Ltd. is facing insolvency proceedings. A shareholder offered to pay 100% of the credit amount to all creditors within two to four weeks. The Adjudicating Authority (National Company Law Tribunal) is considering this offer. Rajputana Properties Private Limited submitted a resolution plan that was rejected by the Adjudicating Authority. Rajputana Properties Private Limited claims its resolution plan is superior and seeks to intervene in the appeal. The appeal is pending before the National Company Law Appellate Tribunal.
Sign in to view the parties.
The question arises for consideration in…
M/s. Rajputana…
Sign in to view related legal provisions.
This is an appeal before the National Company Law Appellate Tribunal (NCLAT) concerning the insolvency of Binani Industries Ltd. The appeal questions whether the Adjudicating Authority (National Company Law Tribunal) can reject a shareholder's offer to pay 100% of the credit amount to all creditors within two to four weeks. Rajputana Properties Private Limited, a resolution applicant, claims its resolution plan was improperly rejected.
Binani Industries Ltd. is facing insolvency proceedings. A shareholder offered to pay 100% of the credit amount to all creditors within two to four weeks. The Adjudicating Authority (National Company Law Tribunal) is considering this offer. Rajputana Properties Private Limited submitted a resolution plan that was rejected by the Adjudicating Authority. Rajputana Properties Private Limited claims its resolution plan is superior and seeks to intervene in the appeal. The appeal is pending before the National Company Law Appellate Tribunal.
The question arises for consideration in…
M/s. Rajputana…
Sign in to view related legal provisions.