The appellant challenged two orders from the Adjudicating Authority (NCLT Chandigarh Bench) dated June 11, 2025. One order directed the liquidation of the Corporate Debtor, and the other rejected the appellant's application to have its Resolution Plan treated as approved, citing a failure to secure the requisite 66% vote from the Committee of Creditors.
The Corporate Insolvency Resolution Process (CIRP) for Richa Industries Ltd. commenced on December 21, 2018. Saariga Construction Pvt. Ltd., as a financial creditor with an 8.94% vote share, submitted a Resolution Plan. This plan was initially rejected by the Committee of Creditors (CoC) on September 3, 2019, leading the Resolution Professional to file an application for the corporate debtor's liquidation.
…Corporate Insolvency…
Appellant's first…
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The appellant challenged two orders from the Adjudicating Authority (NCLT Chandigarh Bench) dated June 11, 2025. One order directed the liquidation of the Corporate Debtor, and the other rejected the appellant's application to have its Resolution Plan treated as approved, citing a failure to secure the requisite 66% vote from the Committee of Creditors.
The Corporate Insolvency Resolution Process (CIRP) for Richa Industries Ltd. commenced on December 21, 2018. Saariga Construction Pvt. Ltd., as a financial creditor with an 8.94% vote share, submitted a Resolution Plan. This plan was initially rejected by the Committee of Creditors (CoC) on September 3, 2019, leading the Resolution Professional to file an application for the corporate debtor's liquidation.
…Corporate Insolvency…
Appellant's first…
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