The Regional Provident Fund Commissioner filed an appeal against an order dated 17th July 2018, by the National Company Law Tribunal (NCLT), Cuttack Bench, which approved a Resolution Plan for Adhunik Metaliks Ltd. The Resolution Plan was initially set aside on 9th July 2019, leading to a Liquidation Order. However, the Resolution Plan was restored on 3rd March 2020. The appellant claims they couldn't challenge the plan earlier due to intervening developments.
The Regional Provident Fund Commissioner filed an appeal against the Impugned Order dated 17th July 2018, passed by the NCLT Cuttack Bench, which approved the Resolution Plan for Adhunik Metaliks Ltd. Subsequently, on 9th July 2019, the Adjudicating Authority set aside the Resolution Plan and ordered liquidation. However, on 3rd March 2020, the Resolution Plan was restored by the Tribunal. The appellant claims they moved the Liquidator with claims related to the provident fund, but the Liquidator stated that the Resolution Plan had been restored, and he was no longer the Liquidator. The appellant argues that intervening developments prevented them from challenging the Resolution Plan earlier. The court noted that the Impugned Order was passed on 17.07.2018 and set
…Sign in to view the parties.
NCLT, Cuttack Bench,…
Adjudicating Authority…
The Regional Provident Fund Commissioner filed an appeal against an order dated 17th July 2018, by the National Company Law Tribunal (NCLT), Cuttack Bench, which approved a Resolution Plan for Adhunik Metaliks Ltd. The Resolution Plan was initially set aside on 9th July 2019, leading to a Liquidation Order. However, the Resolution Plan was restored on 3rd March 2020. The appellant claims they couldn't challenge the plan earlier due to intervening developments.
The Regional Provident Fund Commissioner filed an appeal against the Impugned Order dated 17th July 2018, passed by the NCLT Cuttack Bench, which approved the Resolution Plan for Adhunik Metaliks Ltd. Subsequently, on 9th July 2019, the Adjudicating Authority set aside the Resolution Plan and ordered liquidation. However, on 3rd March 2020, the Resolution Plan was restored by the Tribunal. The appellant claims they moved the Liquidator with claims related to the provident fund, but the Liquidator stated that the Resolution Plan had been restored, and he was no longer the Liquidator. The appellant argues that intervening developments prevented them from challenging the Resolution Plan earlier. The court noted that the Impugned Order was passed on 17.07.2018 and set
…NCLT, Cuttack Bench,…
Adjudicating Authority…