These are two appeals filed against the same order dated 13.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench. The Adjudicating Authority rejected I.A. No. 31/2021 filed by the Resolution Professional for approval of the Resolution Plan and disposed of I.A. No. 293/2020 filed by Giriraj Coated Fab Pvt. Ltd., directing that Giriraj be given another opportunity to participate in the submission of a Resolution Plan. The Resolution Professional and the Successful Resolution Applicant, Nikunj Udyog, whose Resolution Plan was approved by the CoC, have appealed the order.
The Corporate Insolvency Resolution Process (CIRP) of Rathi Graphic Technologies Ltd. was initiated by the Adjudicating Authority on 03.02.2020. Anshul Gupta was appointed as the Resolution Professional. Form G was published on 24.08.2020, inviting Expression of Interests from prospective resolution applicants. Two resolution plans were received, one from Giriraj Coated Fab Pvt. Ltd. and another from Nikunj Udyog. The plans were discussed in CoC meetings. Prospective Resolution Applicants were invited to present their plans. The CoC requested revised plans to be submitted by 12.11.2020. Nikunj Udyog submitted its revised plan on time, but Giriraj Coated Fab Pvt. Ltd. submitted its revised plan on 15.11.2020, after the deadline. The CoC decided not to consider the late
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Corporate Insolvency Resolution Process (CIRP)…
Resolution Professional published Form G,…
Sign in to view related legal provisions.
These are two appeals filed against the same order dated 13.06.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Allahabad Bench. The Adjudicating Authority rejected I.A. No. 31/2021 filed by the Resolution Professional for approval of the Resolution Plan and disposed of I.A. No. 293/2020 filed by Giriraj Coated Fab Pvt. Ltd., directing that Giriraj be given another opportunity to participate in the submission of a Resolution Plan. The Resolution Professional and the Successful Resolution Applicant, Nikunj Udyog, whose Resolution Plan was approved by the CoC, have appealed the order.
The Corporate Insolvency Resolution Process (CIRP) of Rathi Graphic Technologies Ltd. was initiated by the Adjudicating Authority on 03.02.2020. Anshul Gupta was appointed as the Resolution Professional. Form G was published on 24.08.2020, inviting Expression of Interests from prospective resolution applicants. Two resolution plans were received, one from Giriraj Coated Fab Pvt. Ltd. and another from Nikunj Udyog. The plans were discussed in CoC meetings. Prospective Resolution Applicants were invited to present their plans. The CoC requested revised plans to be submitted by 12.11.2020. Nikunj Udyog submitted its revised plan on time, but Giriraj Coated Fab Pvt. Ltd. submitted its revised plan on 15.11.2020, after the deadline. The CoC decided not to consider the late
…Corporate Insolvency Resolution Process (CIRP)…
Resolution Professional published Form G,…
Sign in to view related legal provisions.