The case involves a Company Appeal concerning the impugned order dated 31.01.2020, passed in IA/69/2020, rendered in CP(IB)/499/7/HDB/2018. As a consequence of the impugned order, the revised final Resolution Plan dated 04.01.2020, submitted by M/s. SVSS Commercial Pvt. Ltd., was approved by the Committee of Creditors with 100% voting shares, as per Section 31(1) of the Code. The appeal challenges this approval of the resolution plan. The Company Appeal was initially filed on 28.05.2021, without a condonation of delay application.
The Southern Power Distribution Company of Telangana Ltd. filed a Company Appeal against the approval of a resolution plan for Vaksh Steels Pvt. Ltd. The revised final Resolution Plan dated 04.01.2020, submitted by SVSS Commercial Pvt. Ltd., was approved by the Committee of Creditors. The Impugned Order was passed on 31.01.2020. The Company Appeal was preferred on 28.05.2021, without a condonation of delay application. The Appellant applied for the Certified Copy of the Judgment only on 30.04.2021. The Appellant was a member of the Committee of Creditors (CoC) and had knowledge of the CIRP proceedings. The Hon'ble Apex Court had extended the period of limitation from 15.03.2020 to 28.02.2022 due to the Covid-19 pandemic. The key fact is that the appellant did not apply
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Revised final…
Impugned Order passed…
The case involves a Company Appeal concerning the impugned order dated 31.01.2020, passed in IA/69/2020, rendered in CP(IB)/499/7/HDB/2018. As a consequence of the impugned order, the revised final Resolution Plan dated 04.01.2020, submitted by M/s. SVSS Commercial Pvt. Ltd., was approved by the Committee of Creditors with 100% voting shares, as per Section 31(1) of the Code. The appeal challenges this approval of the resolution plan. The Company Appeal was initially filed on 28.05.2021, without a condonation of delay application.
The Southern Power Distribution Company of Telangana Ltd. filed a Company Appeal against the approval of a resolution plan for Vaksh Steels Pvt. Ltd. The revised final Resolution Plan dated 04.01.2020, submitted by SVSS Commercial Pvt. Ltd., was approved by the Committee of Creditors. The Impugned Order was passed on 31.01.2020. The Company Appeal was preferred on 28.05.2021, without a condonation of delay application. The Appellant applied for the Certified Copy of the Judgment only on 30.04.2021. The Appellant was a member of the Committee of Creditors (CoC) and had knowledge of the CIRP proceedings. The Hon'ble Apex Court had extended the period of limitation from 15.03.2020 to 28.02.2022 due to the Covid-19 pandemic. The key fact is that the appellant did not apply
…Revised final…
Impugned Order passed…