The appeal was filed by an Operational Creditor challenging the order dated 21.04.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court – V), which allowed the Application I.A. 2946/2021 filed by the Resolution Professional for approval of the Resolution Plan. The Corporate Debtor, Vinayak Rathi Steels Rolling Private Limited, was put into Corporate Insolvency Resolution Process (CIRP) initiated by order dated 16.06.2020, on an application filed by Jammu and Kashmir Bank, the Financial Creditor. The appellant filed its claim as Operational Creditor on 01.08.2020 for an amount of ₹1,54,64,626/-, out of which RP admitted ₹93,00,564/-. The appellant's application against rejection of the claim was dismissed on 23.09.2021. The
…Vinayak Rathi Steels Rolling Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated on 16.06.2020 by Jammu and Kashmir Bank (Financial Creditor). Rajat Metaal Polychem Pvt. Ltd. (Appellant) filed a claim as Operational Creditor on 01.08.2020 for ₹1,54,64,626, of which ₹93,00,564 was admitted by the Resolution Professional (RP). The Appellant's application against rejection of the claim was dismissed on 23.09.2021. The admitted claim of the Financial Creditor was ₹6013.50 Lakhs. The Resolution Applicant proposed ₹2312.50 Lakhs to the Financial Creditor and ₹30,50,206 for CIRP costs. No amount was proposed for the Operational Creditor. The Committee of Creditors (CoC), consisting solely of the Financial Creditor, approved
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Corporate Insolvency Resolution Process (CIRP)…
A public annou…
The appeal was filed by an Operational Creditor challenging the order dated 21.04.2022 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court – V), which allowed the Application I.A. 2946/2021 filed by the Resolution Professional for approval of the Resolution Plan. The Corporate Debtor, Vinayak Rathi Steels Rolling Private Limited, was put into Corporate Insolvency Resolution Process (CIRP) initiated by order dated 16.06.2020, on an application filed by Jammu and Kashmir Bank, the Financial Creditor. The appellant filed its claim as Operational Creditor on 01.08.2020 for an amount of ₹1,54,64,626/-, out of which RP admitted ₹93,00,564/-. The appellant's application against rejection of the claim was dismissed on 23.09.2021. The
…Vinayak Rathi Steels Rolling Private Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP) initiated on 16.06.2020 by Jammu and Kashmir Bank (Financial Creditor). Rajat Metaal Polychem Pvt. Ltd. (Appellant) filed a claim as Operational Creditor on 01.08.2020 for ₹1,54,64,626, of which ₹93,00,564 was admitted by the Resolution Professional (RP). The Appellant's application against rejection of the claim was dismissed on 23.09.2021. The admitted claim of the Financial Creditor was ₹6013.50 Lakhs. The Resolution Applicant proposed ₹2312.50 Lakhs to the Financial Creditor and ₹30,50,206 for CIRP costs. No amount was proposed for the Operational Creditor. The Committee of Creditors (CoC), consisting solely of the Financial Creditor, approved
…Corporate Insolvency Resolution Process (CIRP)…
A public annou…