The appeal was filed against the order of the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh, dated 9th July 2020. The appellant, Kind Special Steels (India) Pvt. Ltd., claimed to be an Operational Creditor of the Corporate Debtor and filed an application (CA) seeking a direction to revise the liquidation value and admit the claim. The Adjudicating Authority dismissed the application because it was filed subsequent to the approval of the Resolution Plan of ‘LHG' by the Committee of Creditors. The Adjudicating Authority also noted that the Hon'ble Apex Court had directed to invite fresh offers as the approved Resolution Plan was non-implementable but declined to accept the Appellant's contention that the application under Section
…Kind Special Steels (India) Pvt. Ltd., claiming to be an Operational Creditor, filed an application (CA) seeking a direction to revise the liquidation value and admit the claim against the Corporate Debtor. The application was filed after the approval of the Resolution Plan of ‘LHG' by the Committee of Creditors. The Hon'ble Apex Court had directed to invite fresh offers as the approved Resolution Plan was non-implementable. The Adjudicating Authority dismissed the application, and the Appellant filed an appeal. The Appellant also failed to submit proof of delivery for the invoices. The Appellant's application under Section 60(5) of the I&B Code was deemed not maintainable by the Adjudicating Authority.
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Appellant filed CA…
The appeal was filed against the order of the Adjudicating Authority (National Company Law Tribunal), Chandigarh Bench, Chandigarh, dated 9th July 2020. The appellant, Kind Special Steels (India) Pvt. Ltd., claimed to be an Operational Creditor of the Corporate Debtor and filed an application (CA) seeking a direction to revise the liquidation value and admit the claim. The Adjudicating Authority dismissed the application because it was filed subsequent to the approval of the Resolution Plan of ‘LHG' by the Committee of Creditors. The Adjudicating Authority also noted that the Hon'ble Apex Court had directed to invite fresh offers as the approved Resolution Plan was non-implementable but declined to accept the Appellant's contention that the application under Section
…Kind Special Steels (India) Pvt. Ltd., claiming to be an Operational Creditor, filed an application (CA) seeking a direction to revise the liquidation value and admit the claim against the Corporate Debtor. The application was filed after the approval of the Resolution Plan of ‘LHG' by the Committee of Creditors. The Hon'ble Apex Court had directed to invite fresh offers as the approved Resolution Plan was non-implementable. The Adjudicating Authority dismissed the application, and the Appellant filed an appeal. The Appellant also failed to submit proof of delivery for the invoices. The Appellant's application under Section 60(5) of the I&B Code was deemed not maintainable by the Adjudicating Authority.
Appellant subm…
Appellant filed CA…