The Company Appeal challenges an Order dated 11.06.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Bench, which approved a resolution plan in IA No.4219/2022 in Company Petition No.IB-1058 (ND)/2018. The resolution plan was submitted by M/s. Red Apple Buyers Welfare Association (Respondent No.2) and approved by the Committee of Creditors (CoC) with 100% voting. A subsequent Memorandum of Understanding (MoU) dated 08.11.2023 was entered into with M/s. Windsor Paradise Heights Pvt. Ltd. (Respondent No.3), introducing modifications to the plan.
The present Company Appeal (AT) (Ins.) No.1496 of 2024 challenges an order dated June 11, 2024, passed by the National Company Law Tribunal (NCLT), New Delhi Bench. This order approved a resolution plan in proceedings held under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code (I&B Code) of 2016, along with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The NCLT's approval allowed I.A. No. 4219/ND/2022.
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Company Petition No.IB-1058 (ND)/2018 was…
The resolution plan,…
The Company Appeal challenges an Order dated 11.06.2024 passed by the National Company Law Tribunal (NCLT), New Delhi Bench, which approved a resolution plan in IA No.4219/2022 in Company Petition No.IB-1058 (ND)/2018. The resolution plan was submitted by M/s. Red Apple Buyers Welfare Association (Respondent No.2) and approved by the Committee of Creditors (CoC) with 100% voting. A subsequent Memorandum of Understanding (MoU) dated 08.11.2023 was entered into with M/s. Windsor Paradise Heights Pvt. Ltd. (Respondent No.3), introducing modifications to the plan.
The present Company Appeal (AT) (Ins.) No.1496 of 2024 challenges an order dated June 11, 2024, passed by the National Company Law Tribunal (NCLT), New Delhi Bench. This order approved a resolution plan in proceedings held under Section 30(6) read with Section 31 of the Insolvency and Bankruptcy Code (I&B Code) of 2016, along with Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The NCLT's approval allowed I.A. No. 4219/ND/2022.
…Company Petition No.IB-1058 (ND)/2018 was…
The resolution plan,…