IFCI Ltd. filed a claim as a financial creditor in the CIRP of Kohinoor Power Pvt. Ltd. (KPPL), the principal borrower, and Kohinoor Steel Pvt. Ltd. (KSPL), the corporate guarantor. The claim was initially rejected by the Resolution Professional (RP) of KSPL, citing that the appellant cannot file two claims against two different Corporate Debtors for the same debt.
IFCI Ltd. granted a loan to M/s Kohinoor Power Pvt. Ltd. (KPPL), with a corporate guarantee from M/s Kohinoor Steel Pvt. Ltd. (KSPL).
KPPL was admitted into Corporate Insolvency Resolution Process (CIRP) on 03.08.2018.
IFCI Ltd. filed its claim as a Financial Creditor with the Resolution Professional of KPPL.
KSPL was admitted into CIRP by the Adjudicating Authority vide its order dated 20.11.2019.
The claim filed by IFCI Ltd. was rejected by the Resolution Professional on 18.02.2020.
The Adjudicating Authority dismissed IA(IB)/1372(KB)/2023 through an order dated 03.04.2024.
The appellant filed its claim for the first time on 11.12.2019 along with proof of claim for an amount of Rs.171,75,49,875.60/-.
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Kohinoor Power Pvt. Ltd. (KPPL) was admitted…
Kohinoor Steel Pvt.…
IFCI Ltd. filed a claim as a financial creditor in the CIRP of Kohinoor Power Pvt. Ltd. (KPPL), the principal borrower, and Kohinoor Steel Pvt. Ltd. (KSPL), the corporate guarantor. The claim was initially rejected by the Resolution Professional (RP) of KSPL, citing that the appellant cannot file two claims against two different Corporate Debtors for the same debt.
IFCI Ltd. granted a loan to M/s Kohinoor Power Pvt. Ltd. (KPPL), with a corporate guarantee from M/s Kohinoor Steel Pvt. Ltd. (KSPL).
KPPL was admitted into Corporate Insolvency Resolution Process (CIRP) on 03.08.2018.
IFCI Ltd. filed its claim as a Financial Creditor with the Resolution Professional of KPPL.
KSPL was admitted into CIRP by the Adjudicating Authority vide its order dated 20.11.2019.
The claim filed by IFCI Ltd. was rejected by the Resolution Professional on 18.02.2020.
The Adjudicating Authority dismissed IA(IB)/1372(KB)/2023 through an order dated 03.04.2024.
The appellant filed its claim for the first time on 11.12.2019 along with proof of claim for an amount of Rs.171,75,49,875.60/-.
Kohinoor Power Pvt. Ltd. (KPPL) was admitted…
Kohinoor Steel Pvt.…