The case involves an appeal against the order of liquidation passed by the National Company Law Tribunal (NCLT), Chennai Bench, against Quantum Coal Energy Pvt. Ltd. The application under Section 9 of the Insolvency and Bankruptcy Code (IBC) was admitted on 15.07.2019. The IRP was appointed, and the first COC meeting was held on 13.08.2019. The COC decided to liquidate the Corporate Debtor, leading to the NCLT's order of liquidation on 17.09.2019.
The application under Section 9 of the Insolvency and Bankruptcy Code (IBC) was admitted on 15.07.2019 against Quantum Coal Energy Pvt. Ltd. The IRP was appointed and a COC was formed. The COC decided to liquidate the Corporate Debtor, leading to an order of liquidation by the NCLT on 17.09.2019. The Appellant claimed the Corporate Debtor had a turnover of Rs.19 Crores in the past. The COC consisted of only one Financial Creditor, ICICI Bank, with whom the Appellant claimed to have settled. The Appellant also claimed to have settled with four Operational Creditors, including ENP IMPEX Pvt. Ltd., and obtained consent from three other Operational Creditors (Carbone International PTE Ltd., Agarwal Coal Corporation Pvt. Ltd., and Penta Coal Pvt. Ltd.) for revival of the
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Application under Section 9 of the Insolvency…
The IRP gave…
The case involves an appeal against the order of liquidation passed by the National Company Law Tribunal (NCLT), Chennai Bench, against Quantum Coal Energy Pvt. Ltd. The application under Section 9 of the Insolvency and Bankruptcy Code (IBC) was admitted on 15.07.2019. The IRP was appointed, and the first COC meeting was held on 13.08.2019. The COC decided to liquidate the Corporate Debtor, leading to the NCLT's order of liquidation on 17.09.2019.
The application under Section 9 of the Insolvency and Bankruptcy Code (IBC) was admitted on 15.07.2019 against Quantum Coal Energy Pvt. Ltd. The IRP was appointed and a COC was formed. The COC decided to liquidate the Corporate Debtor, leading to an order of liquidation by the NCLT on 17.09.2019. The Appellant claimed the Corporate Debtor had a turnover of Rs.19 Crores in the past. The COC consisted of only one Financial Creditor, ICICI Bank, with whom the Appellant claimed to have settled. The Appellant also claimed to have settled with four Operational Creditors, including ENP IMPEX Pvt. Ltd., and obtained consent from three other Operational Creditors (Carbone International PTE Ltd., Agarwal Coal Corporation Pvt. Ltd., and Penta Coal Pvt. Ltd.) for revival of the
…Application under Section 9 of the Insolvency…
The IRP gave…