The appeal was filed by 'M/s Stressed Assets Stabilization Fund' against the order dated 26th June, 2018, passed by the Adjudicating Authority (National Company Law Tribunal) Kolkata bench, Kolkata, which rejected the Appellant's application. The Corporate Insolvency Resolution Process (CIRP) was initiated against 'M/s Datre Corporation Ltd.' (Corporate Debtor) on 20th September, 2017. An order of moratorium was passed, and a Resolution Professional was appointed. The Committee of Creditors (CoC) was constituted, but the Appellant, being a related party to the Promoter of the Corporate Debtor, was excluded from the CoC. The Appellant filed an Interlocutory Application on 7th March, 2018, seeking to recall the order admitting CIRP, stay the CIRP, allow the Applicant to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against 'M/s Datre Corporation Ltd.' (Corporate Debtor) on 20th September, 2017. 'M/s Stressed Assets Stabilization Fund' (Appellant) filed an Interlocutory Application seeking to recall the order admitting CIRP, stay the CIRP, allow the Applicant to attend CoC meetings, pass an order of liquidation, and initiate action against the RP and Corporate Debtor for suppressing material facts. The Appellant was a related party to the Promoter of the Corporate Debtor and was excluded from the Committee of Creditors (CoC). The 180-day period for CIRP was expiring on 18th March, 2018, and was extended by 90 days. The Adjudicating Authority dismissed the Appellant's application. The Appellant did not challenge the
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Corporate Insolvency Resolution Process…
Appellant preferred an Interlocutory…
The appeal was filed by 'M/s Stressed Assets Stabilization Fund' against the order dated 26th June, 2018, passed by the Adjudicating Authority (National Company Law Tribunal) Kolkata bench, Kolkata, which rejected the Appellant's application. The Corporate Insolvency Resolution Process (CIRP) was initiated against 'M/s Datre Corporation Ltd.' (Corporate Debtor) on 20th September, 2017. An order of moratorium was passed, and a Resolution Professional was appointed. The Committee of Creditors (CoC) was constituted, but the Appellant, being a related party to the Promoter of the Corporate Debtor, was excluded from the CoC. The Appellant filed an Interlocutory Application on 7th March, 2018, seeking to recall the order admitting CIRP, stay the CIRP, allow the Applicant to
…The Corporate Insolvency Resolution Process (CIRP) was initiated against 'M/s Datre Corporation Ltd.' (Corporate Debtor) on 20th September, 2017. 'M/s Stressed Assets Stabilization Fund' (Appellant) filed an Interlocutory Application seeking to recall the order admitting CIRP, stay the CIRP, allow the Applicant to attend CoC meetings, pass an order of liquidation, and initiate action against the RP and Corporate Debtor for suppressing material facts. The Appellant was a related party to the Promoter of the Corporate Debtor and was excluded from the Committee of Creditors (CoC). The 180-day period for CIRP was expiring on 18th March, 2018, and was extended by 90 days. The Adjudicating Authority dismissed the Appellant's application. The Appellant did not challenge the
…Corporate Insolvency Resolution Process…
Appellant preferred an Interlocutory…