The appeal was filed against the dismissal of I.A No. 96 of 2020 by the Adjudicating Authority (National Company Law Tribunal), Indore Bench at Ahmedabad. The Appellant's prayer for revision of the approved Resolution Plan was turned down. The Corporate Debtor is an MSME, and the Appellant, aware of the financial condition of the Corporate Debtor, submitted the sole Resolution Plan that was approved by the Adjudicating Authority. The Adjudicating Authority did not entertain the Appellant's contention that it had no knowledge of the financial condition of the Corporate Debtor.
Seroco Lighting Industries Pvt. Ltd. filed an appeal against the dismissal of I.A No. 96 of 2020. The Adjudicating Authority (National Company Law Tribunal), Indore Bench at Ahmedabad, rejected the Appellant's request to revise the approved Resolution Plan. The Corporate Debtor is an MSME. Seroco Lighting Industries Pvt. Ltd., being aware of the financial condition of the Corporate Debtor, submitted the sole Resolution Plan, which was initially approved. The Adjudicating Authority rejected the Appellant's claim of lacking knowledge about the Corporate Debtor's financial condition. The Appellant sought revision of the approved Resolution Plan, but the Appellate Tribunal found no merit in the appeal, stating that the Appellant, as the sole Resolution Applicant in the
…Sign in to view the parties.
The Adjudicating Authority passed an impugned…
The Appellate Tribunal…
The appeal was filed against the dismissal of I.A No. 96 of 2020 by the Adjudicating Authority (National Company Law Tribunal), Indore Bench at Ahmedabad. The Appellant's prayer for revision of the approved Resolution Plan was turned down. The Corporate Debtor is an MSME, and the Appellant, aware of the financial condition of the Corporate Debtor, submitted the sole Resolution Plan that was approved by the Adjudicating Authority. The Adjudicating Authority did not entertain the Appellant's contention that it had no knowledge of the financial condition of the Corporate Debtor.
Seroco Lighting Industries Pvt. Ltd. filed an appeal against the dismissal of I.A No. 96 of 2020. The Adjudicating Authority (National Company Law Tribunal), Indore Bench at Ahmedabad, rejected the Appellant's request to revise the approved Resolution Plan. The Corporate Debtor is an MSME. Seroco Lighting Industries Pvt. Ltd., being aware of the financial condition of the Corporate Debtor, submitted the sole Resolution Plan, which was initially approved. The Adjudicating Authority rejected the Appellant's claim of lacking knowledge about the Corporate Debtor's financial condition. The Appellant sought revision of the approved Resolution Plan, but the Appellate Tribunal found no merit in the appeal, stating that the Appellant, as the sole Resolution Applicant in the
…The Adjudicating Authority passed an impugned…
The Appellate Tribunal…