The appeal was filed against an order of the National Company Law Tribunal, Mumbai Bench, which consolidated the Corporate Insolvency Resolution Processes (CIRPs) of Lavasa Corporate Ltd. (LCL) and its 100% subsidiary companies, Warasgaon Assets Maintenance Ltd. (WAML) and Dasve Convention Centre Ltd. (DCCL). The appellant, an operational creditor of DCCL, challenged this consolidation.
The appeal challenges an order dated February 26, 2020 , issued by the Adjudicating Authority, National Company Law Tribunal, Mumbai Bench. This order consolidated the Corporate Insolvency Resolution Process (CIRP) of Respondent No. 2, Lavasa Corporate Ltd. (LCL), with its 100% subsidiary companies, Respondent No. 3, Warasgaon Assets Maintenance Ltd. (WAML), and Dasve Convention Centre Ltd. (DCCL). All three companies were already undergoing CIRP. The order also directed the consolidated Committee of Creditors (CoC) to decide on the debt of Warasgaon Powers Supply Ltd. (WPSL) and Dasve Retail Ltd. (DRL), which were also subsidiaries but not under CIRP. The Resolution Professional of LCL was appointed for the consolidated CIRP. Oase Asia Pacific Pte Ltd., the appellant,
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The Corporate Insolvency Resolution Process…
Dasve Convention Centre Ltd. (DCCL) was…
The appeal was filed against an order of the National Company Law Tribunal, Mumbai Bench, which consolidated the Corporate Insolvency Resolution Processes (CIRPs) of Lavasa Corporate Ltd. (LCL) and its 100% subsidiary companies, Warasgaon Assets Maintenance Ltd. (WAML) and Dasve Convention Centre Ltd. (DCCL). The appellant, an operational creditor of DCCL, challenged this consolidation.
The appeal challenges an order dated February 26, 2020 , issued by the Adjudicating Authority, National Company Law Tribunal, Mumbai Bench. This order consolidated the Corporate Insolvency Resolution Process (CIRP) of Respondent No. 2, Lavasa Corporate Ltd. (LCL), with its 100% subsidiary companies, Respondent No. 3, Warasgaon Assets Maintenance Ltd. (WAML), and Dasve Convention Centre Ltd. (DCCL). All three companies were already undergoing CIRP. The order also directed the consolidated Committee of Creditors (CoC) to decide on the debt of Warasgaon Powers Supply Ltd. (WPSL) and Dasve Retail Ltd. (DRL), which were also subsidiaries but not under CIRP. The Resolution Professional of LCL was appointed for the consolidated CIRP. Oase Asia Pacific Pte Ltd., the appellant,
…The Corporate Insolvency Resolution Process…
Dasve Convention Centre Ltd. (DCCL) was…