The appeal challenges the Adjudicating Authority's order dated 16.07.2025, which pertains to the sale of non-core assets of Arshiya Limited. The Resolution Professional filed the appeal against the order passed in IA No. 1927 of 2025 arising out of CP(IB) No. 3143/MB/2019.
Arshiya Limited was admitted into corporate insolvency resolution process on 23 April 2024.
The Corporate Debtor has non-core land assets in Khurja admeasuring 42.08 acres.
The land parcels are partly mortgaged in favor of Edelweiss Asset Reconstruction Company Limited and SREI Equipment Finance Limited.
NCR Rail and ANFL are undergoing CIRP and have resolution plans pending approval.
The CoC approved a resolution for the two-part sale of the land parcels with 85.46% voting in favor.
The Adjudicating Authority directed the RPs of NCR Rail and ANFL to invite independent bids for the land parcels.
The Intervenor, Mr. Ajay Mittal, is the erstwhile Director of the Corporate Debtor and has filed an application seeking various reliefs.
Sign in to view the parties.
Order passed by the National Company Law…
Arshiya Limited was…
The appeal challenges the Adjudicating Authority's order dated 16.07.2025, which pertains to the sale of non-core assets of Arshiya Limited. The Resolution Professional filed the appeal against the order passed in IA No. 1927 of 2025 arising out of CP(IB) No. 3143/MB/2019.
Arshiya Limited was admitted into corporate insolvency resolution process on 23 April 2024.
The Corporate Debtor has non-core land assets in Khurja admeasuring 42.08 acres.
The land parcels are partly mortgaged in favor of Edelweiss Asset Reconstruction Company Limited and SREI Equipment Finance Limited.
NCR Rail and ANFL are undergoing CIRP and have resolution plans pending approval.
The CoC approved a resolution for the two-part sale of the land parcels with 85.46% voting in favor.
The Adjudicating Authority directed the RPs of NCR Rail and ANFL to invite independent bids for the land parcels.
The Intervenor, Mr. Ajay Mittal, is the erstwhile Director of the Corporate Debtor and has filed an application seeking various reliefs.
Order passed by the National Company Law…
Arshiya Limited was…