The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Kolkata, which approved a Resolution Plan submitted by Shriram Multicom Pvt. Ltd. The appellant, Kanoria Energy & Infrastructure Ltd., challenged this order, arguing that the Committee of Creditors (CoC) did not consider a higher offer made by them and that the constitution of the CoC itself was under challenge. The appellant also contended that certain crucial information regarding the Corporate Debtor's assets, specifically the inclusion of certain floors with commercial spaces in Hotel Westin, was not adequately disclosed during the Corporate Insolvency Resolution Process (CIRP). The appellant initially filed a Civil Appeal before the Supreme Court, which was later
…Kanoria Energy & Infrastructure Ltd. filed an appeal challenging an order by the NCLT Kolkata that approved Shriram Multicom Pvt. Ltd.'s resolution plan. Kanoria argued that the CoC didn't consider their higher offer and that the CoC's constitution was flawed due to RARE Asset Reconstruction Limited's exclusion. They also claimed the RP didn't disclose information about commercial spaces in Hotel Westin, part of the Corporate Debtor's assets. Kanoria initially appealed to the Supreme Court but withdrew to file with NCLAT. They submitted that the RP deliberately withheld information about the hotel floors and commercial spaces. The RP and the Successful Resolution Applicant (SRA) refuted this, stating the Information Memorandum contained all necessary details. The
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The Committee of Creditors (“CoC”) in its…
Order passed by the Hon'ble National Company…
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The case involves an appeal against an order passed by the National Company Law Tribunal (NCLT), Kolkata, which approved a Resolution Plan submitted by Shriram Multicom Pvt. Ltd. The appellant, Kanoria Energy & Infrastructure Ltd., challenged this order, arguing that the Committee of Creditors (CoC) did not consider a higher offer made by them and that the constitution of the CoC itself was under challenge. The appellant also contended that certain crucial information regarding the Corporate Debtor's assets, specifically the inclusion of certain floors with commercial spaces in Hotel Westin, was not adequately disclosed during the Corporate Insolvency Resolution Process (CIRP). The appellant initially filed a Civil Appeal before the Supreme Court, which was later
…Kanoria Energy & Infrastructure Ltd. filed an appeal challenging an order by the NCLT Kolkata that approved Shriram Multicom Pvt. Ltd.'s resolution plan. Kanoria argued that the CoC didn't consider their higher offer and that the CoC's constitution was flawed due to RARE Asset Reconstruction Limited's exclusion. They also claimed the RP didn't disclose information about commercial spaces in Hotel Westin, part of the Corporate Debtor's assets. Kanoria initially appealed to the Supreme Court but withdrew to file with NCLAT. They submitted that the RP deliberately withheld information about the hotel floors and commercial spaces. The RP and the Successful Resolution Applicant (SRA) refuted this, stating the Information Memorandum contained all necessary details. The
…The Committee of Creditors (“CoC”) in its…
Order passed by the Hon'ble National Company…
Sign in to view related legal provisions.