The case involves an application filed by Hemant Khaitan, an operational creditor and former employee of Alex Green Energy Pvt. Ltd., claiming unpaid operational debt of Rs. 10,00,800 as arrears of salary. The application was for initiating CIRP against Alex Green Energy Pvt. Ltd., the corporate debtor. Alex Green Energy Pvt. Ltd. was engaged in solar power generation and had a power purchase agreement with GRIDCO. The corporate debtor's control room and inverter room were damaged due to a storm, rendering the plant non-operational and leading to its inability to pay debts. The application was initially allowed, and an IRP was appointed. The CIRP process continued with public announcements and invitations for EOI and resolution plans. Kundan Care Products Ltd., another
…Hemant Khaitan, an operational creditor, filed CP(IB) No. 1439/KB/2018 against Alex Green Energy Pvt. Ltd. for unpaid salary arrears of Rs. 10,00,800. Alex Green Energy Pvt. Ltd., a solar power generation company, faced operational difficulties due to storm damage, leading to its inability to pay debts. The application was initially allowed, and Mr. Surya Kant Satapathy was appointed as IRP. The CIRP process involved issuing public announcements and inviting EOIs and resolution plans. Six resolution plans were received. Kundan Care Products Ltd. (ranked H6) filed CA(IB) 1205/KB/2019 objecting to the approval of Fortis Chemicals Pvt. Ltd.'s resolution plan. Kundan Care Products Ltd. argued that Step-III of the evaluation process was skipped, denying them an opportunity
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CP(IB) No. 1439…
Application allowed vide Order dated…
The case involves an application filed by Hemant Khaitan, an operational creditor and former employee of Alex Green Energy Pvt. Ltd., claiming unpaid operational debt of Rs. 10,00,800 as arrears of salary. The application was for initiating CIRP against Alex Green Energy Pvt. Ltd., the corporate debtor. Alex Green Energy Pvt. Ltd. was engaged in solar power generation and had a power purchase agreement with GRIDCO. The corporate debtor's control room and inverter room were damaged due to a storm, rendering the plant non-operational and leading to its inability to pay debts. The application was initially allowed, and an IRP was appointed. The CIRP process continued with public announcements and invitations for EOI and resolution plans. Kundan Care Products Ltd., another
…Hemant Khaitan, an operational creditor, filed CP(IB) No. 1439/KB/2018 against Alex Green Energy Pvt. Ltd. for unpaid salary arrears of Rs. 10,00,800. Alex Green Energy Pvt. Ltd., a solar power generation company, faced operational difficulties due to storm damage, leading to its inability to pay debts. The application was initially allowed, and Mr. Surya Kant Satapathy was appointed as IRP. The CIRP process involved issuing public announcements and inviting EOIs and resolution plans. Six resolution plans were received. Kundan Care Products Ltd. (ranked H6) filed CA(IB) 1205/KB/2019 objecting to the approval of Fortis Chemicals Pvt. Ltd.'s resolution plan. Kundan Care Products Ltd. argued that Step-III of the evaluation process was skipped, denying them an opportunity
…CP(IB) No. 1439…
Application allowed vide Order dated…