The case involves two appeals, Company Appeal (AT)(Ins) No.201/2021 and Company Appeal (AT)(Ins) No.266/2021, both arising from the same order dated 28.01.2021 passed by the National Company Law Tribunal (NCLT), Ahmedabad Bench, in IA No.846/2020 in CP (IB) No.404/2019. The NCLT had approved a Resolution Plan for the Corporate Debtor, M/s MV Omni Projects (India) Ltd, but with a modification. Company Appeal (AT)(Ins) No.201/2021 was filed by the successful resolution applicant, Mathuraprasad C Pandey, challenging the modification made by the NCLT. Company Appeal (AT)(Ins) No.266/2021 was filed by Nandish Patel, an ex-employee and operational creditor of the Corporate Debtor, challenging the approval of the Resolution Plan itself, alleging fraud and suppression of
…The Corporate Debtor, M/s MV Omni Projects (India) Ltd, underwent Corporate Insolvency Resolution Process (CIRP) initiated by an operational creditor, Nandish Patel, who was also an ex-employee. The CIRP was initiated based on an application under Section 9 of the IBC, admitted in August 2019. The NCLT approved a Resolution Plan submitted by Mathuraprasad C Pandey, who was a promoter of the Corporate Debtor, but modified it. Nandish Patel challenged the approval of the Resolution Plan, alleging that the promoters fraudulently misrepresented the Corporate Debtor as an MSME to gain advantages under the IBC and suppressed material facts, including fraudulent transactions and diversion of funds. He claimed the promoters obtained an Udyog Aadhar Acknowledgement through
…Sign in to view the parties.
Application under Section 9 of IBC admitted,…
Mr. Parthiv Parikh…
The case involves two appeals, Company Appeal (AT)(Ins) No.201/2021 and Company Appeal (AT)(Ins) No.266/2021, both arising from the same order dated 28.01.2021 passed by the National Company Law Tribunal (NCLT), Ahmedabad Bench, in IA No.846/2020 in CP (IB) No.404/2019. The NCLT had approved a Resolution Plan for the Corporate Debtor, M/s MV Omni Projects (India) Ltd, but with a modification. Company Appeal (AT)(Ins) No.201/2021 was filed by the successful resolution applicant, Mathuraprasad C Pandey, challenging the modification made by the NCLT. Company Appeal (AT)(Ins) No.266/2021 was filed by Nandish Patel, an ex-employee and operational creditor of the Corporate Debtor, challenging the approval of the Resolution Plan itself, alleging fraud and suppression of
…The Corporate Debtor, M/s MV Omni Projects (India) Ltd, underwent Corporate Insolvency Resolution Process (CIRP) initiated by an operational creditor, Nandish Patel, who was also an ex-employee. The CIRP was initiated based on an application under Section 9 of the IBC, admitted in August 2019. The NCLT approved a Resolution Plan submitted by Mathuraprasad C Pandey, who was a promoter of the Corporate Debtor, but modified it. Nandish Patel challenged the approval of the Resolution Plan, alleging that the promoters fraudulently misrepresented the Corporate Debtor as an MSME to gain advantages under the IBC and suppressed material facts, including fraudulent transactions and diversion of funds. He claimed the promoters obtained an Udyog Aadhar Acknowledgement through
…Application under Section 9 of IBC admitted,…
Mr. Parthiv Parikh…