This is an appeal filed by the suspended Director of Proplarity Infrastructure Pvt. Ltd. challenging the order dated 03.07.2024 passed by the National Company Law Tribunal (NCLT), New Delhi, which admitted a Section 7 application filed by the Financial Creditors (Respondents 1 to 4). The Appellant claims to have settled with the Financial Creditors, but the Interim Resolution Professional (IRP) constituted a Committee of Creditors (CoC) including parties the Appellant claims are related and whose claims were wrongly admitted.
Proplarity Infrastructure Pvt. Ltd. is the Corporate Debtor. Respondent Nos. 1 to 4, claiming to be Financial Creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) alleging a default of Rs. 10,21,07,880/- as per a loan agreement dated 13.10.2016. The Adjudicating Authority admitted the application on 03.07.2024. The Interim Resolution Professional (IRP) issued a publication on 12.07.2024 inviting claims, with a deadline of 23.07.2024. The IRP constituted a Committee of Creditors (CoC) on 25.07.2024. The Appellant, the suspended Director of the Corporate Debtor, claims to have settled with the Financial Creditors. The Appellant challenges the inclusion of M/s Creta Infrastructure Pvt. Ltd. and M/s Proplarity Infratech Pvt.
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Date of the loan…
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This is an appeal filed by the suspended Director of Proplarity Infrastructure Pvt. Ltd. challenging the order dated 03.07.2024 passed by the National Company Law Tribunal (NCLT), New Delhi, which admitted a Section 7 application filed by the Financial Creditors (Respondents 1 to 4). The Appellant claims to have settled with the Financial Creditors, but the Interim Resolution Professional (IRP) constituted a Committee of Creditors (CoC) including parties the Appellant claims are related and whose claims were wrongly admitted.
Proplarity Infrastructure Pvt. Ltd. is the Corporate Debtor. Respondent Nos. 1 to 4, claiming to be Financial Creditors, filed an application under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC) alleging a default of Rs. 10,21,07,880/- as per a loan agreement dated 13.10.2016. The Adjudicating Authority admitted the application on 03.07.2024. The Interim Resolution Professional (IRP) issued a publication on 12.07.2024 inviting claims, with a deadline of 23.07.2024. The IRP constituted a Committee of Creditors (CoC) on 25.07.2024. The Appellant, the suspended Director of the Corporate Debtor, claims to have settled with the Financial Creditors. The Appellant challenges the inclusion of M/s Creta Infrastructure Pvt. Ltd. and M/s Proplarity Infratech Pvt.
…Date of the loan…
Financial Creditors…