This appeal was filed against an order dated 2022-04-28 passed by the National Company Law Tribunal, Principal Bench at New Delhi. The order approved a Resolution Plan submitted by Value Infra Buyers Association. The appellant, Paridhi Finvest Private Limited, a financial creditor, challenged the approval. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Daimler Financial Services India Private Limited. The appellant had extended a loan to the Corporate Debtor and executed a Memorandum of Equitable Mortgage in 2014. The appellant's claim was admitted in the CIRP, and a Resolution Plan was submitted by Value Infra Buyers Association,
…On 2014-09-17, Paridhi Finvest Private Limited (Appellant) extended a loan to the Corporate Debtor and executed a Memorandum of Equitable Mortgage. On 2018-05-04, Corporate Insolvency Resolution Process (CIRP) commenced against the Corporate Debtor following an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Daimler Financial Services India Private Limited. The Appellant filed a claim in the CIRP, which was admitted by the Resolution Professional (RP) for Rs.1,86,00,000/-. Form-G was issued on 2018-11-20, and Pacificia (India) Projects Private Limited filed an Expression of Interest (EoI), but no Resolution Plan was submitted. The 180 days of CIRP expired on 2018-10-31, and 270 days expired on 2019-01-29. The RP filed an application for
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Appellant extended loan to Corporate Debtor…
Corporate Insolvency…
This appeal was filed against an order dated 2022-04-28 passed by the National Company Law Tribunal, Principal Bench at New Delhi. The order approved a Resolution Plan submitted by Value Infra Buyers Association. The appellant, Paridhi Finvest Private Limited, a financial creditor, challenged the approval. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor following an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Daimler Financial Services India Private Limited. The appellant had extended a loan to the Corporate Debtor and executed a Memorandum of Equitable Mortgage in 2014. The appellant's claim was admitted in the CIRP, and a Resolution Plan was submitted by Value Infra Buyers Association,
…On 2014-09-17, Paridhi Finvest Private Limited (Appellant) extended a loan to the Corporate Debtor and executed a Memorandum of Equitable Mortgage. On 2018-05-04, Corporate Insolvency Resolution Process (CIRP) commenced against the Corporate Debtor following an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Daimler Financial Services India Private Limited. The Appellant filed a claim in the CIRP, which was admitted by the Resolution Professional (RP) for Rs.1,86,00,000/-. Form-G was issued on 2018-11-20, and Pacificia (India) Projects Private Limited filed an Expression of Interest (EoI), but no Resolution Plan was submitted. The 180 days of CIRP expired on 2018-10-31, and 270 days expired on 2019-01-29. The RP filed an application for
…Appellant extended loan to Corporate Debtor…
Corporate Insolvency…