The case involves appeals against two orders passed by the Adjudicating Authority/National Company Law Tribunal, Mumbai Bench. The first order rejected Application No. MA/1039/2019, which raised objections against alleged illegalities in the conduct of the Corporate Insolvency Resolution Process (CIRP). The second order, passed in MA/691/2019, approved the Resolution Plan. Kotak Investment Advisors Limited (KIAL), an unsuccessful Resolution Applicant, filed MA No.1039/2019 seeking rejection of the approved Resolution Plan submitted by a consortium of Kalpraj Dharamshi and Rekha Jhunjhunwala, alleging illegalities in the CIRP. The Adjudicating Authority rejected KIAL's application, relying on the Supreme Court's judgment in K. Sashidhar v. Indian Overseas Bank, which
…Kotak Investment Advisors Limited (KIAL) filed MA No.1039 of 2019 seeking rejection of the approved Resolution Plan submitted by a consortium of Kalpraj Dharamshi and Rekha Jhunjhunwala. The Adjudicating Authority rejected KIAL's application, relying on the Supreme Court's judgment in K. Sashidhar v. Indian Overseas Bank. The Resolution Professional (RP) issued an advertisement on 09th July 2018 calling for Expression of Interest (EOI). Phoenix Asset Reconstruction Company Limited, an Associate of KIAL, submitted EOI on 07th August 2018. The last date for submission of Resolution Plan was 08th January 2019. Two Resolution Applicants, including KIAL, filed their Resolution Plans within the deadline. The RP accepted two more Resolution Plans after the expiry of the
…Sign in to view the parties.
The Resolution Professional made an…
Phoenix Asset Reconstruction Company Limited,…
The case involves appeals against two orders passed by the Adjudicating Authority/National Company Law Tribunal, Mumbai Bench. The first order rejected Application No. MA/1039/2019, which raised objections against alleged illegalities in the conduct of the Corporate Insolvency Resolution Process (CIRP). The second order, passed in MA/691/2019, approved the Resolution Plan. Kotak Investment Advisors Limited (KIAL), an unsuccessful Resolution Applicant, filed MA No.1039/2019 seeking rejection of the approved Resolution Plan submitted by a consortium of Kalpraj Dharamshi and Rekha Jhunjhunwala, alleging illegalities in the CIRP. The Adjudicating Authority rejected KIAL's application, relying on the Supreme Court's judgment in K. Sashidhar v. Indian Overseas Bank, which
…Kotak Investment Advisors Limited (KIAL) filed MA No.1039 of 2019 seeking rejection of the approved Resolution Plan submitted by a consortium of Kalpraj Dharamshi and Rekha Jhunjhunwala. The Adjudicating Authority rejected KIAL's application, relying on the Supreme Court's judgment in K. Sashidhar v. Indian Overseas Bank. The Resolution Professional (RP) issued an advertisement on 09th July 2018 calling for Expression of Interest (EOI). Phoenix Asset Reconstruction Company Limited, an Associate of KIAL, submitted EOI on 07th August 2018. The last date for submission of Resolution Plan was 08th January 2019. Two Resolution Applicants, including KIAL, filed their Resolution Plans within the deadline. The RP accepted two more Resolution Plans after the expiry of the
…The Resolution Professional made an…
Phoenix Asset Reconstruction Company Limited,…