This appeal was filed by a Successful Resolution Applicant (SRA) challenging the order dated 08.12.2023 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench, Court – II), which partly allowed I.A.1857/2023 filed by the State Bank of India (SBI), directing the SRA to implement the revised resolution plan.
The corporate debtor, Ushdev International Limited, was admitted to CIRP by order dated 17.05.2018.
The appellant submitted a revised resolution plan on 22.06.2021, which was approved by the CoC on the same date with 91.06% vote share.
The adjudicating authority approved the resolution plan on 03.02.2022.
The resolution applicant proposed a committed payment of ₹227 crore, with ₹225.14 crore for financial creditors.
SBI filed I.A. No.1857/2023 on 28.04.2023, seeking implementation of the revised resolution plan.
The adjudicating authority partly allowed the application on 08.12.2023, directing the SRA to implement the plan within 2 months.
The appellant filed the appeal on 16.02.2024, challenging the order.
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Ushdev International Limited was admitted to…
The appellant submitted…
This appeal was filed by a Successful Resolution Applicant (SRA) challenging the order dated 08.12.2023 passed by the adjudicating authority (National Company Law Tribunal, Mumbai Bench, Court – II), which partly allowed I.A.1857/2023 filed by the State Bank of India (SBI), directing the SRA to implement the revised resolution plan.
The corporate debtor, Ushdev International Limited, was admitted to CIRP by order dated 17.05.2018.
The appellant submitted a revised resolution plan on 22.06.2021, which was approved by the CoC on the same date with 91.06% vote share.
The adjudicating authority approved the resolution plan on 03.02.2022.
The resolution applicant proposed a committed payment of ₹227 crore, with ₹225.14 crore for financial creditors.
SBI filed I.A. No.1857/2023 on 28.04.2023, seeking implementation of the revised resolution plan.
The adjudicating authority partly allowed the application on 08.12.2023, directing the SRA to implement the plan within 2 months.
The appellant filed the appeal on 16.02.2024, challenging the order.
…Ushdev International Limited was admitted to…
The appellant submitted…