The appeal challenges the Adjudicating Authority's order approving the Resolution Plan submitted by the Operational Creditor, M/s Mahavir Medicare, and rejecting the Appellant's Resolution Plan.
The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor commenced after an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor.
Mr. Rajeev Ranjan Singh was appointed as the Interim Resolution Professional to conduct the insolvency process.
The Appellant, Pragiti Construction, submitted a Resolution Plan which was rejected by the Committee of Creditors.
M/s Mahavir Medicare, the Operational Creditor, was the sole member of the Committee of Creditors holding 100% voting rights.
The Adjudicating Authority approved the Resolution Plan submitted by the Operational Creditor.
The Appellant's Resolution Plan offered a higher value than the plan submitted by the Operational Creditor.
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CIRP commenced after…
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The appeal challenges the Adjudicating Authority's order approving the Resolution Plan submitted by the Operational Creditor, M/s Mahavir Medicare, and rejecting the Appellant's Resolution Plan.
The Corporate Insolvency Resolution Process (CIRP) of the Corporate Debtor commenced after an application filed under Section 9 of the Insolvency and Bankruptcy Code, 2016 by the Operational Creditor.
Mr. Rajeev Ranjan Singh was appointed as the Interim Resolution Professional to conduct the insolvency process.
The Appellant, Pragiti Construction, submitted a Resolution Plan which was rejected by the Committee of Creditors.
M/s Mahavir Medicare, the Operational Creditor, was the sole member of the Committee of Creditors holding 100% voting rights.
The Adjudicating Authority approved the Resolution Plan submitted by the Operational Creditor.
The Appellant's Resolution Plan offered a higher value than the plan submitted by the Operational Creditor.
…CIRP commenced after…
Public announ…