The appeal was filed by Indian Bank, UCO Bank, Bank of Baroda, ICICI Bank Limited, and Union Bank of India, collectively the Appellant Banks, under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging the common Judgment and Order dated 05.02.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Cuttack Bench).
Indian Bank and other financial creditors initiated CIRP against OCL Iron and Steel Ltd. under Section 7 of the IBC.
The Committee of Creditors (CoC) was formed with nine financial creditors, including Asia Opportunities (III) Mauritius Limited, ICICI Bank, State Bank of India, Indian Bank, UCO Bank, Bank of Baroda, Union Bank of India, Punjab National Bank, and Ganesh Ores Pvt. Ltd.
The CoC approved a resolution plan submitted by M/s Indrani Patnaik (SRA) with 88.98% majority vote.
The Adjudicating Authority approved the Resolution Plan on 20.03.2023 and constituted a Monitoring Committee.
State Bank of India, being a dissenting financial creditor, filed I.A. No. 149/2023 seeking to set aside the distribution decided in the 4th Monitoring Committee meeting.
…Sign in to view the parties.
Date of the common Judgment and Order passed by…
Date on which the Corporate Debtor was…
The appeal was filed by Indian Bank, UCO Bank, Bank of Baroda, ICICI Bank Limited, and Union Bank of India, collectively the Appellant Banks, under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging the common Judgment and Order dated 05.02.2024 passed by the Adjudicating Authority (National Company Law Tribunal, Cuttack Bench).
Indian Bank and other financial creditors initiated CIRP against OCL Iron and Steel Ltd. under Section 7 of the IBC.
The Committee of Creditors (CoC) was formed with nine financial creditors, including Asia Opportunities (III) Mauritius Limited, ICICI Bank, State Bank of India, Indian Bank, UCO Bank, Bank of Baroda, Union Bank of India, Punjab National Bank, and Ganesh Ores Pvt. Ltd.
The CoC approved a resolution plan submitted by M/s Indrani Patnaik (SRA) with 88.98% majority vote.
The Adjudicating Authority approved the Resolution Plan on 20.03.2023 and constituted a Monitoring Committee.
State Bank of India, being a dissenting financial creditor, filed I.A. No. 149/2023 seeking to set aside the distribution decided in the 4th Monitoring Committee meeting.
…Date of the common Judgment and Order passed by…
Date on which the Corporate Debtor was…