The case involves an appeal against an order dated 04.12.2024 passed by the National Company Law Tribunal (NCLT), New Delhi, which rejected IA-4783/2024 filed by the Appellant. The Corporate Insolvency Resolution Process (CIRP) against International Recreation and Amusement Ltd. commenced on 03.08.2018. The Resolution Professional (RP) was appointed, and a Resolution Plan submitted by HGAS-Apex JV was approved by the Committee of Creditors (CoC) on 09.05.2019. The RP filed an IA for approval of the Resolution Plan, which is pending consideration. The Appellant, claiming to have acquired a substantial shareholding in Appu Ghar Entertainment Pvt. Ltd., filed IA No.4783/2024 seeking to place a reverse insolvency resolution plan before the CoC. This application was
…The Corporate Insolvency Resolution Process (CIRP) against International Recreation and Amusement Ltd. commenced on 03.08.2018. Pramod Kumar Sharma was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and on 09.05.2019, the CoC approved a Resolution Plan submitted by HGAS-Apex JV. The RP filed an IA for approval of the Resolution Plan, which is still pending consideration. The Appellant, Parmesh Construction Company Ltd., claiming to have acquired a substantial shareholding in Appu Ghar Entertainment Pvt. Ltd., filed IA No.4783/2024 seeking to place a reverse insolvency resolution plan before the CoC. The Adjudicating Authority rejected this application on 04.12.2024, leading to the current appeal. The Appellant claims to
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The case involves an appeal against an order dated 04.12.2024 passed by the National Company Law Tribunal (NCLT), New Delhi, which rejected IA-4783/2024 filed by the Appellant. The Corporate Insolvency Resolution Process (CIRP) against International Recreation and Amusement Ltd. commenced on 03.08.2018. The Resolution Professional (RP) was appointed, and a Resolution Plan submitted by HGAS-Apex JV was approved by the Committee of Creditors (CoC) on 09.05.2019. The RP filed an IA for approval of the Resolution Plan, which is pending consideration. The Appellant, claiming to have acquired a substantial shareholding in Appu Ghar Entertainment Pvt. Ltd., filed IA No.4783/2024 seeking to place a reverse insolvency resolution plan before the CoC. This application was
…The Corporate Insolvency Resolution Process (CIRP) against International Recreation and Amusement Ltd. commenced on 03.08.2018. Pramod Kumar Sharma was appointed as the Resolution Professional (RP). The Committee of Creditors (CoC) was constituted, and on 09.05.2019, the CoC approved a Resolution Plan submitted by HGAS-Apex JV. The RP filed an IA for approval of the Resolution Plan, which is still pending consideration. The Appellant, Parmesh Construction Company Ltd., claiming to have acquired a substantial shareholding in Appu Ghar Entertainment Pvt. Ltd., filed IA No.4783/2024 seeking to place a reverse insolvency resolution plan before the CoC. The Adjudicating Authority rejected this application on 04.12.2024, leading to the current appeal. The Appellant claims to
…The Corporate Insolvency Resolution Process…
The Committee of…
Sign in to view related legal provisions.