The case involves an appeal against an order related to the Corporate Insolvency Resolution Process (CIRP) of Lakshmi Precisions Screws Ltd. The Committee of Creditors (CoC) had approved a Resolution Plan on April 1, 2019, which was later modified and approved in November 2019. The plan was submitted to the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench, Chandigarh) for approval. The CIRP was initiated on July 18, 2018. The appeal was filed against an order dated March 17, 2020, concerning various Interlocutory Applications (I.As) in the CIRP proceeding.
Lakshmi Precisions Screws Ltd. is undergoing CIRP since July 18, 2018. The Committee of Creditors (CoC) approved a Resolution Plan on April 1, 2019, which was later modified and approved in November 2019. The modified plan was submitted to the National Company Law Tribunal (NCLT), Chandigarh Bench, for approval. The CP (IB) No. is 155/CHD/HRY/2018. An appeal was filed against an order dated March 17, 2020, related to various I.As in the CIRP proceeding. The CoC members are concerned about increasing CIRP costs and their potential impact on the recovery under the Resolution Plan. The impugned order was considered not appealable.
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CIRP initiated…
CoC approve…
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The case involves an appeal against an order related to the Corporate Insolvency Resolution Process (CIRP) of Lakshmi Precisions Screws Ltd. The Committee of Creditors (CoC) had approved a Resolution Plan on April 1, 2019, which was later modified and approved in November 2019. The plan was submitted to the Adjudicating Authority (National Company Law Tribunal, Chandigarh Bench, Chandigarh) for approval. The CIRP was initiated on July 18, 2018. The appeal was filed against an order dated March 17, 2020, concerning various Interlocutory Applications (I.As) in the CIRP proceeding.
Lakshmi Precisions Screws Ltd. is undergoing CIRP since July 18, 2018. The Committee of Creditors (CoC) approved a Resolution Plan on April 1, 2019, which was later modified and approved in November 2019. The modified plan was submitted to the National Company Law Tribunal (NCLT), Chandigarh Bench, for approval. The CP (IB) No. is 155/CHD/HRY/2018. An appeal was filed against an order dated March 17, 2020, related to various I.As in the CIRP proceeding. The CoC members are concerned about increasing CIRP costs and their potential impact on the recovery under the Resolution Plan. The impugned order was considered not appealable.
CIRP initiated…
CoC approve…
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