The appellant, promoter of Esskay Motors Pvt. Ltd. (Corporate Debtor), challenged the order dated January 8, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench under Section 33(2) of the Insolvency & Bankruptcy Code, 2016. The order pertained to the liquidation of the company and the appointment of a 'Liquidator' for that purpose. The appellant's grievance was that the 180-day period was to be completed by January 21, 2018, but the matter was hurriedly closed by the 'Committee of Creditors' in its meeting held on October 3, 2017, to proceed with the liquidation without further calling for a 'Resolution Plan'.
The appellant, Chandra Kalian Parkash, is the promoter of Esskay Motors Pvt. Ltd., which is the Corporate Debtor. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, passed an order on January 8, 2018, under Section 33(2) of the Insolvency & Bankruptcy Code, 2016, for the liquidation of Esskay Motors and appointed a Liquidator. The appellant's grievance is that the Committee of Creditors (CoC) decided to proceed with liquidation prematurely on October 3, 2017, without adequately exploring resolution plans, even though the 180-day period for resolution was to be completed by January 21, 2018. The CoC had asked the Resolution Professional to present a revival proposal on August 31, 2017, but no resolution plan was filed. The appellant's counsel
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The appellant, promoter of Esskay Motors Pvt. Ltd. (Corporate Debtor), challenged the order dated January 8, 2018, passed by the Adjudicating Authority (National Company Law Tribunal), Mumbai Bench under Section 33(2) of the Insolvency & Bankruptcy Code, 2016. The order pertained to the liquidation of the company and the appointment of a 'Liquidator' for that purpose. The appellant's grievance was that the 180-day period was to be completed by January 21, 2018, but the matter was hurriedly closed by the 'Committee of Creditors' in its meeting held on October 3, 2017, to proceed with the liquidation without further calling for a 'Resolution Plan'.
The appellant, Chandra Kalian Parkash, is the promoter of Esskay Motors Pvt. Ltd., which is the Corporate Debtor. The Adjudicating Authority (National Company Law Tribunal), Mumbai Bench, passed an order on January 8, 2018, under Section 33(2) of the Insolvency & Bankruptcy Code, 2016, for the liquidation of Esskay Motors and appointed a Liquidator. The appellant's grievance is that the Committee of Creditors (CoC) decided to proceed with liquidation prematurely on October 3, 2017, without adequately exploring resolution plans, even though the 180-day period for resolution was to be completed by January 21, 2018. The CoC had asked the Resolution Professional to present a revival proposal on August 31, 2017, but no resolution plan was filed. The appellant's counsel
…The Committee of Creditors asked the…
The Committee of…