The case involves two appeals filed by S. Chandriah against orders passed by the National Company Law Tribunal (NCLT), Ahmedabad Bench, related to the insolvency resolution process of Digjam Limited. Company Appeal (AT) Insolvency No. 22 of 2022 challenges the NCLT's order dated 07.02.2022, which rejected S. Chandriah's application (I.A. No. 658 of 2019) to be admitted as a financial creditor and a member of the Committee of Creditors (CoC). Company Appeal (AT) Insolvency No. 21 of 2022 challenges the NCLT's order dated 27.05.2020, which approved the resolution plan for Digjam Limited. S. Chandriah had offered to purchase surplus land from Digjam Limited and paid earnest money, but his claim to be a financial creditor was rejected, and the resolution plan was approved
…S. Chandriah, the appellant, offered to purchase surplus land from Digjam Limited, the corporate debtor, via a letter dated 2018-09-14. Subsequently, Chandriah paid Rs. 7 Crores as earnest money to Digjam Limited between 2018-09-26 and 2019-04-08. However, no formal agreement for the sale of land was executed. Meanwhile, Oman Inc. filed an application under Section 9 of the IBC against Digjam Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Chandriah filed claims as both an operational and financial creditor. The Resolution Professional (RP) classified Chandriah as 'other creditor'. Chandriah's application to be recognized as a financial creditor and a member of the CoC was rejected by the Adjudicating Authority (NCLT). The
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The case involves two appeals filed by S. Chandriah against orders passed by the National Company Law Tribunal (NCLT), Ahmedabad Bench, related to the insolvency resolution process of Digjam Limited. Company Appeal (AT) Insolvency No. 22 of 2022 challenges the NCLT's order dated 07.02.2022, which rejected S. Chandriah's application (I.A. No. 658 of 2019) to be admitted as a financial creditor and a member of the Committee of Creditors (CoC). Company Appeal (AT) Insolvency No. 21 of 2022 challenges the NCLT's order dated 27.05.2020, which approved the resolution plan for Digjam Limited. S. Chandriah had offered to purchase surplus land from Digjam Limited and paid earnest money, but his claim to be a financial creditor was rejected, and the resolution plan was approved
…S. Chandriah, the appellant, offered to purchase surplus land from Digjam Limited, the corporate debtor, via a letter dated 2018-09-14. Subsequently, Chandriah paid Rs. 7 Crores as earnest money to Digjam Limited between 2018-09-26 and 2019-04-08. However, no formal agreement for the sale of land was executed. Meanwhile, Oman Inc. filed an application under Section 9 of the IBC against Digjam Limited, leading to the initiation of the Corporate Insolvency Resolution Process (CIRP). Chandriah filed claims as both an operational and financial creditor. The Resolution Professional (RP) classified Chandriah as 'other creditor'. Chandriah's application to be recognized as a financial creditor and a member of the CoC was rejected by the Adjudicating Authority (NCLT). The
…The Appellant sent a letter to the Corporate…
Subsequent to the sending letter dated…