This case involves an appeal against an order dated 18.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Division Bench, Kolkata, in IA (IBC) No. 957/KB/2023 in CP (IB) No. 250/KB/2021. The appellant, Kesoram Industries Limited, challenged the decision of the Resolution Professional (RP) rejecting their claim as a Financial Creditor. The corporate debtor, Birla Tyres Limited, underwent a demerger under Sections 230-232 of the Companies Act, 2013, approved by the NCLT, Kolkata on 08.11.2019. An application under Section 9 was filed in 2021 against the corporate debtor, admitted on 05.05.2022, and Mr. Seikh Abdul Salam was appointed as Interim Resolution Professional (IRP). Kesoram Industries filed its claim as a Financial Creditor for
…Kesoram Industries Limited (Appellant) claimed to be a financial creditor of Birla Tyres Limited (Corporate Debtor) for Rs.5,18,28,91,356/-. Birla Tyres underwent a demerger approved by NCLT Kolkata on 08.11.2019. An application under Section 9 of IBC was filed against Birla Tyres in 2021 and admitted on 05.05.2022. Mr. Seikh Abdul Salam was appointed as IRP, later replaced by Mr. Pratim Bayal (Respondent No.1) as RP. Kesoram was initially admitted to the CoC but removed as a related party. The RP requested additional documents from Kesoram to verify the claim, specifically a signed loan agreement, bank statements showing disbursement and repayment, details of the corporate debtor's bank account where the loan was disbursed, and computation of interest. Kesoram
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NCLT, Kolkata approved the demerger of the…
An application under…
This case involves an appeal against an order dated 18.10.2023 passed by the Adjudicating Authority (National Company Law Tribunal), Division Bench, Kolkata, in IA (IBC) No. 957/KB/2023 in CP (IB) No. 250/KB/2021. The appellant, Kesoram Industries Limited, challenged the decision of the Resolution Professional (RP) rejecting their claim as a Financial Creditor. The corporate debtor, Birla Tyres Limited, underwent a demerger under Sections 230-232 of the Companies Act, 2013, approved by the NCLT, Kolkata on 08.11.2019. An application under Section 9 was filed in 2021 against the corporate debtor, admitted on 05.05.2022, and Mr. Seikh Abdul Salam was appointed as Interim Resolution Professional (IRP). Kesoram Industries filed its claim as a Financial Creditor for
…Kesoram Industries Limited (Appellant) claimed to be a financial creditor of Birla Tyres Limited (Corporate Debtor) for Rs.5,18,28,91,356/-. Birla Tyres underwent a demerger approved by NCLT Kolkata on 08.11.2019. An application under Section 9 of IBC was filed against Birla Tyres in 2021 and admitted on 05.05.2022. Mr. Seikh Abdul Salam was appointed as IRP, later replaced by Mr. Pratim Bayal (Respondent No.1) as RP. Kesoram was initially admitted to the CoC but removed as a related party. The RP requested additional documents from Kesoram to verify the claim, specifically a signed loan agreement, bank statements showing disbursement and repayment, details of the corporate debtor's bank account where the loan was disbursed, and computation of interest. Kesoram
…NCLT, Kolkata approved the demerger of the…
An application under…