The case involves an appeal against an order assailed in ‘Company Appeal (AT) (Insolvency) No. 793 of 2020', which was previously disposed of by the Appellate Tribunal. The prior order dismissed an application under Section 60(5) of the 'I&B Code' but allowed the Appellant to raise objections regarding the fairness and transparency of the bidding process and adherence to statutory provisions. The Committee of Creditors had yet to examine the Resolution Plans and take a decision.
Ome Prakash Verma, the suspended director of Neesa Leisure Ltd., is the Appellant. Amit Jain, the Resolution Professional (RP) of Neesa Leisure Ltd., and others are the Respondents. The case concerns an appeal against an order that was previously assailed in ‘Company Appeal (AT) (Insolvency) No. 793 of 2020'. The previous order dismissed an application under Section 60(5) of the 'I&B Code' but allowed the Appellant to raise objections regarding the fairness and transparency of the bidding process. The Committee of Creditors had opened and discussed two plans, including that of the Appellant, before the impugned orders were passed. The Appellant is an ex-director and may not be eligible to submit a resolution plan. The key facts revolve around the fairness and
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Order dated 14th September, 2020 dismissing…
The case involves an appeal against an order assailed in ‘Company Appeal (AT) (Insolvency) No. 793 of 2020', which was previously disposed of by the Appellate Tribunal. The prior order dismissed an application under Section 60(5) of the 'I&B Code' but allowed the Appellant to raise objections regarding the fairness and transparency of the bidding process and adherence to statutory provisions. The Committee of Creditors had yet to examine the Resolution Plans and take a decision.
Ome Prakash Verma, the suspended director of Neesa Leisure Ltd., is the Appellant. Amit Jain, the Resolution Professional (RP) of Neesa Leisure Ltd., and others are the Respondents. The case concerns an appeal against an order that was previously assailed in ‘Company Appeal (AT) (Insolvency) No. 793 of 2020'. The previous order dismissed an application under Section 60(5) of the 'I&B Code' but allowed the Appellant to raise objections regarding the fairness and transparency of the bidding process. The Committee of Creditors had opened and discussed two plans, including that of the Appellant, before the impugned orders were passed. The Appellant is an ex-director and may not be eligible to submit a resolution plan. The key facts revolve around the fairness and
…Reply filed by…
Order dated 14th September, 2020 dismissing…