The Appellant, Ram Prasad Agarwala, a suspended Director of the Corporate Debtor (Fairdeal Supplies Ltd.), challenged an order dated 18/03/2026 passed by the Adjudicating Authority. This order allowed I.A. 362/2026, filed by Respondent No. 5, which sought to set aside the Resolution Professional's rejection of Respondent No. 5's Expression of Interest (EOI) and to allow Respondent No. 5 to participate in the Corporate Insolvency Resolution Process (CIRP) as a Prospective Resolution Applicant (PRA). The Adjudicating Authority had condoned the delay in submission of the Letter of Intent (LOI) and directed the completion of the process by 03.04.2026.
The Appellant, Ram Prasad Agarwala, is a suspended Director of the Corporate Debtor, Fairdeal Supplies Ltd.
The Appeal challenges an order dated 18/03/2026, by which I.A. 362/2026 filed by Respondent No. 5 was allowed by the Adjudicating Authority.
Respondent No. 5's application sought to set aside the Resolution Professional's rejection email dated 15/03/2026 and allow participation in the Corporate Insolvency Resolution Process (CIRP) as a Prospective Resolution Applicant (PRA).
The Adjudicating Authority's order condoned the delay in submission of the Letter of Intent (LOI) and subsequent Resolution Plan by Respondent No. 5, setting a deadline of 03.04.2026 for completion of the process.
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The Appellant, Ram Prasad Agarwala, a suspended Director of the Corporate Debtor (Fairdeal Supplies Ltd.), challenged an order dated 18/03/2026 passed by the Adjudicating Authority. This order allowed I.A. 362/2026, filed by Respondent No. 5, which sought to set aside the Resolution Professional's rejection of Respondent No. 5's Expression of Interest (EOI) and to allow Respondent No. 5 to participate in the Corporate Insolvency Resolution Process (CIRP) as a Prospective Resolution Applicant (PRA). The Adjudicating Authority had condoned the delay in submission of the Letter of Intent (LOI) and directed the completion of the process by 03.04.2026.
The Appellant, Ram Prasad Agarwala, is a suspended Director of the Corporate Debtor, Fairdeal Supplies Ltd.
The Appeal challenges an order dated 18/03/2026, by which I.A. 362/2026 filed by Respondent No. 5 was allowed by the Adjudicating Authority.
Respondent No. 5's application sought to set aside the Resolution Professional's rejection email dated 15/03/2026 and allow participation in the Corporate Insolvency Resolution Process (CIRP) as a Prospective Resolution Applicant (PRA).
The Adjudicating Authority's order condoned the delay in submission of the Letter of Intent (LOI) and subsequent Resolution Plan by Respondent No. 5, setting a deadline of 03.04.2026 for completion of the process.
…Last date for…
Date of provisional…
Sign in to view related legal provisions.