The appeal challenges an order dated 16.06.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) in I.A. No.2956/2024 & I.A. No. 3550/2024 in C.P. (IB) No. 513(MB)/2022. The order approved the decision of the CoC to permit R-3 to submit a revised resolution plan.
The CIRP of Future Enterprises Limited commenced on 27.02.2023.
Both the appellant and R-3 submitted Expression of Interest (EoI) in response to the resolution plan issued on 01.02.2024.
The CoC requested both the appellant and R-3 to revise their plans.
The appellant submitted a revised resolution plan of Rs.60 crore and later a second revised plan for Rs.75 crore.
R-3 initially failed to submit a revised plan but later sought time.
On 29.05.2024, R-3 sent an email communicating its intention to withdraw from the process and seeking a refund of the EMD.
On 31.05.2024, R-3 sent another email asking the RP to ignore the earlier email and communicated that it would submit a revised plan.
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The Corporate Insolvency Resolution Process…
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The appeal challenges an order dated 16.06.2025 passed by the Adjudicating Authority (National Company Law Tribunal, Mumbai Bench) in I.A. No.2956/2024 & I.A. No. 3550/2024 in C.P. (IB) No. 513(MB)/2022. The order approved the decision of the CoC to permit R-3 to submit a revised resolution plan.
The CIRP of Future Enterprises Limited commenced on 27.02.2023.
Both the appellant and R-3 submitted Expression of Interest (EoI) in response to the resolution plan issued on 01.02.2024.
The CoC requested both the appellant and R-3 to revise their plans.
The appellant submitted a revised resolution plan of Rs.60 crore and later a second revised plan for Rs.75 crore.
R-3 initially failed to submit a revised plan but later sought time.
On 29.05.2024, R-3 sent an email communicating its intention to withdraw from the process and seeking a refund of the EMD.
On 31.05.2024, R-3 sent another email asking the RP to ignore the earlier email and communicated that it would submit a revised plan.
…The Corporate Insolvency Resolution Process…
Form G was issued…
Sign in to view related legal provisions.