This appeal arises from an order dated 2023-05-03 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court II). The Adjudicating Authority allowed an application filed by the Respondent (Mahesh Bajaj), an Operational Creditor, seeking directions to the Resolution Professional to provide the information memorandum (IM) and other relevant documents to the Operational Creditor, who is a participant in the Committee of Creditors (CoC). The Adjudicating Authority directed the Appellant to deliver a copy of the Information Memorandum and other documents considered in the CoC meeting to the Respondent, irrespective of whether the Respondent is a participant in the CoC.
Tulsi Nandan Kant Bansal (Financial Creditor) filed an application i.e. (IB) – 996(ND)/2020 under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s P.G. Advertising Pvt. Ltd. seeking resolution of an amount of Rs. 1,05,00,000/-. The application was admitted on 2022-10-18, and a moratorium was imposed. Vinay Kumar Singhal was appointed as Interim Resolution Professional (IRP). During the CIRP proceedings, Mahesh Bajaj, one of the Operational Creditors representing 10% of the Corporate Debtor's debt, filed I.A. No. 2460 of 2023 seeking directions for the Resolution Professional to provide the information memorandum (IM) and other relevant documents. The Adjudicating Authority allowed this application on 2023-05-03, leading to the present appeal by the
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Tulsi Nandan Kant Bansal (Financial…
The application filed by Tulsi Nandan Kant…
This appeal arises from an order dated 2023-05-03 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court II). The Adjudicating Authority allowed an application filed by the Respondent (Mahesh Bajaj), an Operational Creditor, seeking directions to the Resolution Professional to provide the information memorandum (IM) and other relevant documents to the Operational Creditor, who is a participant in the Committee of Creditors (CoC). The Adjudicating Authority directed the Appellant to deliver a copy of the Information Memorandum and other documents considered in the CoC meeting to the Respondent, irrespective of whether the Respondent is a participant in the CoC.
Tulsi Nandan Kant Bansal (Financial Creditor) filed an application i.e. (IB) – 996(ND)/2020 under Section 7 of the Insolvency and Bankruptcy Code, 2016 against M/s P.G. Advertising Pvt. Ltd. seeking resolution of an amount of Rs. 1,05,00,000/-. The application was admitted on 2022-10-18, and a moratorium was imposed. Vinay Kumar Singhal was appointed as Interim Resolution Professional (IRP). During the CIRP proceedings, Mahesh Bajaj, one of the Operational Creditors representing 10% of the Corporate Debtor's debt, filed I.A. No. 2460 of 2023 seeking directions for the Resolution Professional to provide the information memorandum (IM) and other relevant documents. The Adjudicating Authority allowed this application on 2023-05-03, leading to the present appeal by the
…Tulsi Nandan Kant Bansal (Financial…
The application filed by Tulsi Nandan Kant…