The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal) Cuttack Bench, which was considering a 'Corporate Insolvency Resolution Process' for 'Ferro Alloys Corporation Ltd.' The appellant, the promoter, raised objections regarding the inclusion of a subsidiary company of the 'Corporate Debtor' and the request for a 'Resolution Plan', including experience to run the subsidiary company. The Adjudicating Authority made observations regarding the application while the approval of the plan was pending.
The 'Corporate Insolvency Resolution Process' of 'Ferro Alloys Corporation Ltd.' is pending before the Adjudicating Authority (National Company Law Tribunal) Cuttack Bench. The promoter (appellant) objected to the inclusion of a subsidiary company of the 'Corporate Debtor' and the request for a 'Resolution Plan', including experience to run the subsidiary company. The Adjudicating Authority made observations in an impugned order dated 18th October, 2019, while the matter relating to the approval of the plan was still pending. The Adjudicating Authority did not want to comment on the RFRP at that stage, stating that the decision of the COC in respect of the Resolution Plan is purely commercial in nature. The appellant was allowed to raise objections by filing a specific
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The Adjudicating Authority issued an impugned…
The 'Plan' is pending for approval, and the…
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The case involves an appeal against an order by the Adjudicating Authority (National Company Law Tribunal) Cuttack Bench, which was considering a 'Corporate Insolvency Resolution Process' for 'Ferro Alloys Corporation Ltd.' The appellant, the promoter, raised objections regarding the inclusion of a subsidiary company of the 'Corporate Debtor' and the request for a 'Resolution Plan', including experience to run the subsidiary company. The Adjudicating Authority made observations regarding the application while the approval of the plan was pending.
The 'Corporate Insolvency Resolution Process' of 'Ferro Alloys Corporation Ltd.' is pending before the Adjudicating Authority (National Company Law Tribunal) Cuttack Bench. The promoter (appellant) objected to the inclusion of a subsidiary company of the 'Corporate Debtor' and the request for a 'Resolution Plan', including experience to run the subsidiary company. The Adjudicating Authority made observations in an impugned order dated 18th October, 2019, while the matter relating to the approval of the plan was still pending. The Adjudicating Authority did not want to comment on the RFRP at that stage, stating that the decision of the COC in respect of the Resolution Plan is purely commercial in nature. The appellant was allowed to raise objections by filing a specific
…The Adjudicating Authority issued an impugned…
The 'Plan' is pending for approval, and the…
Sign in to view related legal provisions.