This case involves an appeal against an order dated 18.01.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad, Court-2 in IA 43(AHM)2022 in CP(IB) No. 185 OF 2018. The appellant, Steel Strips Wheels Ltd., challenges the impugned order. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor, AMW Auto Component Ltd., on 01.09.2020. The appellant's resolution plan was approved by the Committee of Creditors (CoC) with 98.55% voting share. However, Respondent No.3 filed an I.A No. 43 of 2022 before the Adjudicating Authority, seeking permission to submit a resolution plan, which the Adjudicating Authority allowed, leading to the present appeal.
The Corporate Insolvency Resolution Process (CIRP) was initiated against AMW Auto Component Ltd. on 01.09.2020. Steel Strips Wheels Ltd. (Appellant) submitted a resolution plan that was approved by the Committee of Creditors (CoC) with 98.55% voting share. The last date for submission of the Expression of Interest was 15.12.2020. The CoC fixed 19.04.2021 as the final date for submission of the Resolution Plan. The Appellant submitted its Resolution Plan on 24.04.2021. The Adjudicating Authority granted an extension of 90 days. The Appellant submitted its revised Resolution Plan on 24.04.2021 with addendum of 27.08.2021. The Letter of Intent was issued by Respondent No.1 to the Appellant on 21.09.2021. Respondent No.3 requested to submit a joint Resolution Plan on
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Corporate Insolvency…
Form-G w…
This case involves an appeal against an order dated 18.01.2022 passed by the Adjudicating Authority (National Company Law Tribunal), Ahmedabad, Court-2 in IA 43(AHM)2022 in CP(IB) No. 185 OF 2018. The appellant, Steel Strips Wheels Ltd., challenges the impugned order. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor, AMW Auto Component Ltd., on 01.09.2020. The appellant's resolution plan was approved by the Committee of Creditors (CoC) with 98.55% voting share. However, Respondent No.3 filed an I.A No. 43 of 2022 before the Adjudicating Authority, seeking permission to submit a resolution plan, which the Adjudicating Authority allowed, leading to the present appeal.
The Corporate Insolvency Resolution Process (CIRP) was initiated against AMW Auto Component Ltd. on 01.09.2020. Steel Strips Wheels Ltd. (Appellant) submitted a resolution plan that was approved by the Committee of Creditors (CoC) with 98.55% voting share. The last date for submission of the Expression of Interest was 15.12.2020. The CoC fixed 19.04.2021 as the final date for submission of the Resolution Plan. The Appellant submitted its Resolution Plan on 24.04.2021. The Adjudicating Authority granted an extension of 90 days. The Appellant submitted its revised Resolution Plan on 24.04.2021 with addendum of 27.08.2021. The Letter of Intent was issued by Respondent No.1 to the Appellant on 21.09.2021. Respondent No.3 requested to submit a joint Resolution Plan on
…Corporate Insolvency…
Form-G w…