This case involves an appeal against an order dated 27.04.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, regarding an application in a corporate insolvency resolution process. The appellant challenges the order and a related public announcement concerning the sale of a lot. The Adjudicating Authority had considered the liquidator's willingness to issue a fresh public announcement instead of contesting the matter. The financial creditor had initiated the CIRP under Section 7 of the Insolvency and Bankruptcy Code, which was admitted on 22.04.2019. An interim resolution professional was appointed and later replaced by Mr. Ravi Kapoor, who became the liquidator. The Committee of Creditors decided to liquidate the corporate
…D.R Corporation, through its proprietor Shri Manoj Kumar Agarwal, filed an appeal against an order passed by the Adjudicating Authority (NCLT), Ahmedabad, in a corporate insolvency resolution process. The appeal concerns the auction of Lot No. 4, which includes the Plant and Machinery of a Ceramic Manufacturing Unit. The appellant claims to be the highest bidder in an auction conducted on 12.04.2021, pursuant to a public announcement on 26.03.2021, with a bid of Rs. 6,15,00,000/- and deposited 25% of the bid amount. Respondent No. 2, Seazone Granito Pvt. Ltd., also participated in the auction but claimed technical difficulties prevented them from participating effectively. Respondent No. 2 filed an application before the Adjudicating Authority, which the appellant
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The Adjudicating Authority admitted the…
Mr. Ravi Kapoor was appointed as the Resolution…
This case involves an appeal against an order dated 27.04.2021 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, regarding an application in a corporate insolvency resolution process. The appellant challenges the order and a related public announcement concerning the sale of a lot. The Adjudicating Authority had considered the liquidator's willingness to issue a fresh public announcement instead of contesting the matter. The financial creditor had initiated the CIRP under Section 7 of the Insolvency and Bankruptcy Code, which was admitted on 22.04.2019. An interim resolution professional was appointed and later replaced by Mr. Ravi Kapoor, who became the liquidator. The Committee of Creditors decided to liquidate the corporate
…D.R Corporation, through its proprietor Shri Manoj Kumar Agarwal, filed an appeal against an order passed by the Adjudicating Authority (NCLT), Ahmedabad, in a corporate insolvency resolution process. The appeal concerns the auction of Lot No. 4, which includes the Plant and Machinery of a Ceramic Manufacturing Unit. The appellant claims to be the highest bidder in an auction conducted on 12.04.2021, pursuant to a public announcement on 26.03.2021, with a bid of Rs. 6,15,00,000/- and deposited 25% of the bid amount. Respondent No. 2, Seazone Granito Pvt. Ltd., also participated in the auction but claimed technical difficulties prevented them from participating effectively. Respondent No. 2 filed an application before the Adjudicating Authority, which the appellant
…The Adjudicating Authority admitted the…
Mr. Ravi Kapoor was appointed as the Resolution…