Malharshanti Enterprises filed an appeal against the order of the National Company Law Tribunal (NCLT), Ahmedabad Bench, which approved a resolution plan submitted by Mr. Naresh Sevantilal Shah for Afcan Impex Private Limited. The appellant argued that Mr. Shah was ineligible under Section 29A of the Insolvency and Bankruptcy Code (IBC) due to his association with CAN Enterprises Pvt. Ltd., a company undergoing CIRP.
CIRP against Afcan Impex Private Limited was initiated based on a Section 7 petition filed by the Bank of Maharashtra.
Mr. Nitin Narang was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for Afcan Impex Private Limited.
The Committee of Creditors (CoC) of Afcan Impex Private Limited consisted of a sole Financial Creditor, the Bank of Maharashtra.
The CoC approved the resolution plan submitted by Mr. Naresh Sevantilal Shah with 100% voting share.
Mr. Naresh Sevantilal Shah was a promoter/director of CAN Enterprises Private Limited, which was undergoing CIRP before NCLT Mumbai.
Malharshanti Enterprises, the appellant, is an Operational Creditor in the CIRP of CAN Enterprises Private Limited.
…Sign in to view the parties.
Order passed by the Ld. NCLT, Ahmedabad in IA…
Ld. NCLT, Ahmedabad…
Malharshanti Enterprises filed an appeal against the order of the National Company Law Tribunal (NCLT), Ahmedabad Bench, which approved a resolution plan submitted by Mr. Naresh Sevantilal Shah for Afcan Impex Private Limited. The appellant argued that Mr. Shah was ineligible under Section 29A of the Insolvency and Bankruptcy Code (IBC) due to his association with CAN Enterprises Pvt. Ltd., a company undergoing CIRP.
CIRP against Afcan Impex Private Limited was initiated based on a Section 7 petition filed by the Bank of Maharashtra.
Mr. Nitin Narang was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP) for Afcan Impex Private Limited.
The Committee of Creditors (CoC) of Afcan Impex Private Limited consisted of a sole Financial Creditor, the Bank of Maharashtra.
The CoC approved the resolution plan submitted by Mr. Naresh Sevantilal Shah with 100% voting share.
Mr. Naresh Sevantilal Shah was a promoter/director of CAN Enterprises Private Limited, which was undergoing CIRP before NCLT Mumbai.
Malharshanti Enterprises, the appellant, is an Operational Creditor in the CIRP of CAN Enterprises Private Limited.
…Order passed by the Ld. NCLT, Ahmedabad in IA…
Ld. NCLT, Ahmedabad…