This appeal was filed under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), challenging the order dated 17.06.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata) in IA(IB) No. NIL/KB/2020 in C.P (IB) No. 1582/KB/2019. The Adjudicating Authority dismissed the application filed by P.M. Cold Storage Pvt. Ltd. (the Appellant), which contested the admission of a claim by New Hind Silk House Pvt. Ltd. (NHSH) in the Corporate Insolvency Resolution Process (CIRP) of Goouksheer Farm Fresh Pvt. Ltd., the corporate debtor. The Appellant argued that NHSH's claim was barred by limitation and that the Resolution Professional (RP) improperly admitted it.
P.M. Cold Storage Pvt. Ltd. initiated an appeal against an order by the Adjudicating Authority (NCLT, Kolkata) which had dismissed its application challenging the admission of a claim by New Hind Silk House Pvt. Ltd. (NHSH) in the CIRP of Goouksheer Farm Fresh Pvt. Ltd. P.M. Cold Storage was the sole financial creditor initially in the CoC with 100% voting rights. The CIRP was initiated on 13.12.2019. The first CoC meeting occurred on 08.01.2020. The RP informed the CoC that P.M. Cold Storage's claim was the only one received by 26.12.2019, amounting to Rs. 65,80,505.00. P.M. Cold Storage filed IA 392/KB/2020 on 13.02.2020 seeking replacement of the RP due to dissatisfaction with expenses and appointment of professionals. The RP, allegedly aggrieved by this action,
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This appeal was filed under Section 61(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), challenging the order dated 17.06.2020 passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata) in IA(IB) No. NIL/KB/2020 in C.P (IB) No. 1582/KB/2019. The Adjudicating Authority dismissed the application filed by P.M. Cold Storage Pvt. Ltd. (the Appellant), which contested the admission of a claim by New Hind Silk House Pvt. Ltd. (NHSH) in the Corporate Insolvency Resolution Process (CIRP) of Goouksheer Farm Fresh Pvt. Ltd., the corporate debtor. The Appellant argued that NHSH's claim was barred by limitation and that the Resolution Professional (RP) improperly admitted it.
P.M. Cold Storage Pvt. Ltd. initiated an appeal against an order by the Adjudicating Authority (NCLT, Kolkata) which had dismissed its application challenging the admission of a claim by New Hind Silk House Pvt. Ltd. (NHSH) in the CIRP of Goouksheer Farm Fresh Pvt. Ltd. P.M. Cold Storage was the sole financial creditor initially in the CoC with 100% voting rights. The CIRP was initiated on 13.12.2019. The first CoC meeting occurred on 08.01.2020. The RP informed the CoC that P.M. Cold Storage's claim was the only one received by 26.12.2019, amounting to Rs. 65,80,505.00. P.M. Cold Storage filed IA 392/KB/2020 on 13.02.2020 seeking replacement of the RP due to dissatisfaction with expenses and appointment of professionals. The RP, allegedly aggrieved by this action,
…Corporate Ins…
First meeting of the…