The case involves an appeal filed by Mr. Nandish Patel, an Operational Creditor, against an order dated January 20, 2020, regarding the replacement of the Interim Resolution Professional (IRP) in the Corporate Insolvency Resolution Process (CIRP) of M/s. M.V. Omni Projects (India) Limited. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, had admitted the application under Section 9 of the Insolvency and Bankruptcy Code, 2016. Subsequently, the Committee of Creditors (CoC), with State Bank of India holding 56% voting shares, moved an application for the replacement of the IRP, which was approved by the CoC with more than 66% voting shares. The Adjudicating Authority accepted the Interlocutory Application and ordered the replacement of the IRP.
Mr. Nandish Patel, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. M.V. Omni Projects (India) Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, admitted the application. Mr. Manish Kumar Bhagat was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC), with the State Bank of India holding 56% voting shares, subsequently moved an application for the replacement of the IRP. The CoC approved the replacement with more than 66% voting shares. The Adjudicating Authority accepted the Interlocutory Application and ordered the replacement of the IRP. Mr. Nandish Patel then filed
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The Adjudicating Authority passed an order for…
Mr. Nandish Patel moved an Application under…
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The case involves an appeal filed by Mr. Nandish Patel, an Operational Creditor, against an order dated January 20, 2020, regarding the replacement of the Interim Resolution Professional (IRP) in the Corporate Insolvency Resolution Process (CIRP) of M/s. M.V. Omni Projects (India) Limited. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, had admitted the application under Section 9 of the Insolvency and Bankruptcy Code, 2016. Subsequently, the Committee of Creditors (CoC), with State Bank of India holding 56% voting shares, moved an application for the replacement of the IRP, which was approved by the CoC with more than 66% voting shares. The Adjudicating Authority accepted the Interlocutory Application and ordered the replacement of the IRP.
Mr. Nandish Patel, an Operational Creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. M.V. Omni Projects (India) Limited, the Corporate Debtor, under Section 9 of the Insolvency and Bankruptcy Code, 2016. The Adjudicating Authority (National Company Law Tribunal), Ahmedabad Bench, admitted the application. Mr. Manish Kumar Bhagat was appointed as the Interim Resolution Professional (IRP). The Committee of Creditors (CoC), with the State Bank of India holding 56% voting shares, subsequently moved an application for the replacement of the IRP. The CoC approved the replacement with more than 66% voting shares. The Adjudicating Authority accepted the Interlocutory Application and ordered the replacement of the IRP. Mr. Nandish Patel then filed
…The Adjudicating Authority passed an order for…
Mr. Nandish Patel moved an Application under…
Sign in to view related legal provisions.