The case involves an appeal against an order dated 24.11.2021 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which rejected CA 734/2018 filed by the Resolution Professional for approval of the Resolution Plan. The Appellants also filed I.A Nos. 5026, 5027 & 5028 of 2021 for cancellation of non-bailable warrants. The Corporate Insolvency Resolution Process (CIRP) was initiated against ‘M/s. Shivkala Developers Pvt. Ltd.'- (Corporate Debtor). The Resolution Plan submitted by the Appellant was approved in the 10th Committee of Creditors' meeting held on 07.11.2018. The Committee of Creditors (CoC) authorised the Resolution Professional to file Application for approval of the Resolution Plan. The Adjudicating Authority issued notice to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Shivkala Developers Pvt. Ltd. The Resolution Plan submitted by Cimco Projects Ltd. was approved by the Committee of Creditors (CoC) on 07.11.2018. CA-734 of 2018 was filed by the Resolution Professional for approval of the Resolution Plan. The Resolution Applicant was impleaded as a Respondent in CA-734 of 2018 on 03.03.2021. The Resolution Applicant failed to deposit the performance guarantee for the Resolution Plan. On 03.09.2021, the Adjudicating Authority issued non-bailable warrants to arrest the Resolution Applicant. On 24.11.2021, the Adjudicating Authority rejected CA-734 of 2018 and dismissed applications for cancellation of non-bailable warrants. The Resolution Plan did not contain
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The case involves an appeal against an order dated 24.11.2021 passed by the Adjudicating Authority (National Company Law Tribunal), New Delhi, which rejected CA 734/2018 filed by the Resolution Professional for approval of the Resolution Plan. The Appellants also filed I.A Nos. 5026, 5027 & 5028 of 2021 for cancellation of non-bailable warrants. The Corporate Insolvency Resolution Process (CIRP) was initiated against ‘M/s. Shivkala Developers Pvt. Ltd.'- (Corporate Debtor). The Resolution Plan submitted by the Appellant was approved in the 10th Committee of Creditors' meeting held on 07.11.2018. The Committee of Creditors (CoC) authorised the Resolution Professional to file Application for approval of the Resolution Plan. The Adjudicating Authority issued notice to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Shivkala Developers Pvt. Ltd. The Resolution Plan submitted by Cimco Projects Ltd. was approved by the Committee of Creditors (CoC) on 07.11.2018. CA-734 of 2018 was filed by the Resolution Professional for approval of the Resolution Plan. The Resolution Applicant was impleaded as a Respondent in CA-734 of 2018 on 03.03.2021. The Resolution Applicant failed to deposit the performance guarantee for the Resolution Plan. On 03.09.2021, the Adjudicating Authority issued non-bailable warrants to arrest the Resolution Applicant. On 24.11.2021, the Adjudicating Authority rejected CA-734 of 2018 and dismissed applications for cancellation of non-bailable warrants. The Resolution Plan did not contain
…The Resolution Plan submitted by the…
The provision for submission of performance…