The appeal was filed by Harish Sharma, an operational creditor and lead member of a consortium, against an order dated 08.02.2023 passed by the Adjudicating Authority (NCLT, New Delhi). The consortium sought to submit a scheme of arrangement under Section 230 of the Companies Act, 2013, for the corporate debtor, C & C Constructions Limited. The corporate debtor had entered Corporate Insolvency Resolution Process (CIRP), and by order dated 07.10.2022, was sent into liquidation. Navneet Kumar Gupta was appointed as the Liquidator. The appellant filed IA 122/2023 seeking an extension of the timeline to submit a scheme of arrangement, which was rejected by the Adjudicating Authority.
Harish Sharma, acting as an operational creditor and lead member of a consortium, filed an appeal against an order by the NCLT rejecting an extension of time to submit a scheme of arrangement for C & C Constructions Limited, which was undergoing liquidation. The corporate debtor entered CIRP and was subsequently ordered into liquidation on 07.10.2022. Navneet Kumar Gupta was appointed as the Liquidator. Sharma, as part of a consortium, intended to propose a scheme of arrangement under Section 230 of the Companies Act, 2013. He requested access to the Virtual Data Room (VDR) but claimed delayed access hindered timely submission. The 90-day period for submitting the scheme, as per Liquidation Process Regulations, expired on 04.01.2023. The Liquidator initiated an
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The corporate debtor, C & C Constructions…
The Liquidator published a notice inviting…
The appeal was filed by Harish Sharma, an operational creditor and lead member of a consortium, against an order dated 08.02.2023 passed by the Adjudicating Authority (NCLT, New Delhi). The consortium sought to submit a scheme of arrangement under Section 230 of the Companies Act, 2013, for the corporate debtor, C & C Constructions Limited. The corporate debtor had entered Corporate Insolvency Resolution Process (CIRP), and by order dated 07.10.2022, was sent into liquidation. Navneet Kumar Gupta was appointed as the Liquidator. The appellant filed IA 122/2023 seeking an extension of the timeline to submit a scheme of arrangement, which was rejected by the Adjudicating Authority.
Harish Sharma, acting as an operational creditor and lead member of a consortium, filed an appeal against an order by the NCLT rejecting an extension of time to submit a scheme of arrangement for C & C Constructions Limited, which was undergoing liquidation. The corporate debtor entered CIRP and was subsequently ordered into liquidation on 07.10.2022. Navneet Kumar Gupta was appointed as the Liquidator. Sharma, as part of a consortium, intended to propose a scheme of arrangement under Section 230 of the Companies Act, 2013. He requested access to the Virtual Data Room (VDR) but claimed delayed access hindered timely submission. The 90-day period for submitting the scheme, as per Liquidation Process Regulations, expired on 04.01.2023. The Liquidator initiated an
…The corporate debtor, C & C Constructions…
The Liquidator published a notice inviting…