The appeal arises from orders passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dismissing I.A. No. 15/KB/2024 and approving I.A. No.2/KB/2024, which upheld the rejection of claims by the Appellant and approved the resolution plan of the Corporate Debtor, Rishra Steel Limited.
The genesis of the proceedings arises out of winding up orders issued by the Calcutta High Court in 1990 in respect of Rishra Steel Ltd.
A Single Judge Bench of the Calcutta High Court approved a revival scheme of Rishra Steel in 1997, inducting Sylvan Commercial Pvt. Ltd. as a promoter.
The revival scheme was set aside by the Division Bench of the Calcutta High Court in 1997, and the Official Liquidator took possession of the assets.
The Calcutta High Court directed Sylvan to file its claim with the OL in 2006, and the Supreme Court directed the OL to adjudicate the claim in 2019.
The OL partially admitted Sylvan's claim for Rs.57.68 lakhs in 2020, rejecting the remainder.
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Calcutta High Court…
A Single Judge Bench of the Calcutta High…
The appeal arises from orders passed by the Adjudicating Authority (National Company Law Tribunal, Kolkata Bench) dismissing I.A. No. 15/KB/2024 and approving I.A. No.2/KB/2024, which upheld the rejection of claims by the Appellant and approved the resolution plan of the Corporate Debtor, Rishra Steel Limited.
The genesis of the proceedings arises out of winding up orders issued by the Calcutta High Court in 1990 in respect of Rishra Steel Ltd.
A Single Judge Bench of the Calcutta High Court approved a revival scheme of Rishra Steel in 1997, inducting Sylvan Commercial Pvt. Ltd. as a promoter.
The revival scheme was set aside by the Division Bench of the Calcutta High Court in 1997, and the Official Liquidator took possession of the assets.
The Calcutta High Court directed Sylvan to file its claim with the OL in 2006, and the Supreme Court directed the OL to adjudicate the claim in 2019.
The OL partially admitted Sylvan's claim for Rs.57.68 lakhs in 2020, rejecting the remainder.
…Calcutta High Court…
A Single Judge Bench of the Calcutta High…