The appeals were filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging an order dated 17.3.2021 in IA No. 290 of 2020 in CP/IB/ALD/ No. 120 of 2017.
Rana Saria Poly Pack Private Limited filed a section 9 application against the corporate debtor, which was admitted, and CIRP was initiated.
Simbhaoli Sugars Limited stated that the resolution plan submitted by NCIRCLE Exim LLP was approved without considering that the CIRP was carried out against the interest of the stakeholders and in violation of the mandatory provisions of IBC.
The Resolution Professional filed various applications before the NCLT for realization of outstanding amounts totaling Rs. 85 crores from the promoters of the corporate debtor.
The NCLT vide order dated 6.1.2020, directed the Resolution Professional to consider resolution plans received and place them before the Committee of Creditors (CoC).
…Sign in to view the parties.
Judgment was d…
The appellants are aggrieved by the order…
The appeals were filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, challenging an order dated 17.3.2021 in IA No. 290 of 2020 in CP/IB/ALD/ No. 120 of 2017.
Rana Saria Poly Pack Private Limited filed a section 9 application against the corporate debtor, which was admitted, and CIRP was initiated.
Simbhaoli Sugars Limited stated that the resolution plan submitted by NCIRCLE Exim LLP was approved without considering that the CIRP was carried out against the interest of the stakeholders and in violation of the mandatory provisions of IBC.
The Resolution Professional filed various applications before the NCLT for realization of outstanding amounts totaling Rs. 85 crores from the promoters of the corporate debtor.
The NCLT vide order dated 6.1.2020, directed the Resolution Professional to consider resolution plans received and place them before the Committee of Creditors (CoC).
…Judgment was d…
The appellants are aggrieved by the order…