The case involves an appeal against the constitution of the Committee of Creditors (CoC). The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, rejected the application filed by the Appellant-Shareholder challenging the constitution of the CoC. The appellant is Surajbari Traders Private Limited. The application, CA(IB)1244/KB/2019, was filed by Suraksha ARC, a shareholder of the erstwhile corporate debtor, challenging the RP's constitution of CoC and allotment of voting share. The Adjudicating Authority deemed the application not maintainable because shareholders of the corporate debtor do not have the locus to challenge the RP's action in this manner.
Surajbari Traders Private Limited filed an appeal against the constitution of the Committee of Creditors (CoC). The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, had rejected the application filed by the Appellant-Shareholder. The application, CA(IB)1244/KB/2019, was filed by Suraksha ARC, a shareholder of the erstwhile corporate debtor, challenging the RP's constitution of CoC and allotment of voting share. The Adjudicating Authority deemed the application not maintainable because shareholders of the corporate debtor do not have the locus to challenge the RP's action in this manner. The NCLAT condoned a delay of 5 days in filing the appeal. The NCLAT ultimately dismissed the appeal, finding no grounds to interfere with the constitution of the
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The Adjudicating Authority (National Company…
The NCLAT heard the appeal, condoned the delay…
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The case involves an appeal against the constitution of the Committee of Creditors (CoC). The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, rejected the application filed by the Appellant-Shareholder challenging the constitution of the CoC. The appellant is Surajbari Traders Private Limited. The application, CA(IB)1244/KB/2019, was filed by Suraksha ARC, a shareholder of the erstwhile corporate debtor, challenging the RP's constitution of CoC and allotment of voting share. The Adjudicating Authority deemed the application not maintainable because shareholders of the corporate debtor do not have the locus to challenge the RP's action in this manner.
Surajbari Traders Private Limited filed an appeal against the constitution of the Committee of Creditors (CoC). The Adjudicating Authority (National Company Law Tribunal), Kolkata Bench, had rejected the application filed by the Appellant-Shareholder. The application, CA(IB)1244/KB/2019, was filed by Suraksha ARC, a shareholder of the erstwhile corporate debtor, challenging the RP's constitution of CoC and allotment of voting share. The Adjudicating Authority deemed the application not maintainable because shareholders of the corporate debtor do not have the locus to challenge the RP's action in this manner. The NCLAT condoned a delay of 5 days in filing the appeal. The NCLAT ultimately dismissed the appeal, finding no grounds to interfere with the constitution of the
…The Adjudicating Authority (National Company…
The NCLAT heard the appeal, condoned the delay…
Sign in to view related legal provisions.