An appeal was filed against an order dated 03.05.2023, where the Adjudicating Authority deemed an application under Section 43 infructuous. The application IA No. 947/2020 involved Rs. 2,02,55,665/-.
The appeal was filed against an order dated 03.05.2023.
The Adjudicating Authority held the application filed under Section 43 as infructuous.
The amount involved in the application IA No. 947/2020 was Rs. 2,02,55,665/-.
The Ex-management offered to deposit the amount, which was accepted by the CoC.
The CoC resolved not to proceed with the Section 43 application.
The Appellant challenged the order, contending that the application for preferential transaction should have been decided.
The Resolution Professional's (RP) counsel submitted that the Plan approval application is pending for the last two years.
The appellate tribunal disposed of the appeal.
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Learned Counsel…
Order passed by the…
An appeal was filed against an order dated 03.05.2023, where the Adjudicating Authority deemed an application under Section 43 infructuous. The application IA No. 947/2020 involved Rs. 2,02,55,665/-.
The appeal was filed against an order dated 03.05.2023.
The Adjudicating Authority held the application filed under Section 43 as infructuous.
The amount involved in the application IA No. 947/2020 was Rs. 2,02,55,665/-.
The Ex-management offered to deposit the amount, which was accepted by the CoC.
The CoC resolved not to proceed with the Section 43 application.
The Appellant challenged the order, contending that the application for preferential transaction should have been decided.
The Resolution Professional's (RP) counsel submitted that the Plan approval application is pending for the last two years.
The appellate tribunal disposed of the appeal.
Learned Counsel…
Order passed by the…