The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions regarding compliance with Regulation 13(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The IRP sought permission to display the unique code of allottees of real estate projects of the Corporate Debtor on the website instead of their names, citing concerns about privacy. IDBI Bank, representing the Committee of Creditors (COC), opposed this, arguing that Regulation 13 mandates the publication of the names of creditors and that non-disclosure would circumvent the regulations and violate a Supreme Court order. Nine Home Buyers
…The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application seeking permission to display unique codes instead of the names of allottees (home buyers) on the corporate debtor's website, citing concerns about privacy. This request was made in the context of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The IRP's application was opposed by IDBI Bank, representing the Committee of Creditors (COC), and by Nine Home Buyers Associations. The COC and the Home Buyers Associations argued that Regulation 13(2) of the CIRP Regulations mandates the publication of the names of creditors, including the allottees, to ensure transparency and facilitate the resolution process. They also contended that
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Company Petition No.(IB)77/ALD/2017 was filed…
Order of Hon'ble Supreme Court of India vide…
The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions regarding compliance with Regulation 13(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. The IRP sought permission to display the unique code of allottees of real estate projects of the Corporate Debtor on the website instead of their names, citing concerns about privacy. IDBI Bank, representing the Committee of Creditors (COC), opposed this, arguing that Regulation 13 mandates the publication of the names of creditors and that non-disclosure would circumvent the regulations and violate a Supreme Court order. Nine Home Buyers
…The Interim Resolution Professional (IRP) for Jaypee Infratech Ltd. filed an application seeking permission to display unique codes instead of the names of allottees (home buyers) on the corporate debtor's website, citing concerns about privacy. This request was made in the context of the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016. The IRP's application was opposed by IDBI Bank, representing the Committee of Creditors (COC), and by Nine Home Buyers Associations. The COC and the Home Buyers Associations argued that Regulation 13(2) of the CIRP Regulations mandates the publication of the names of creditors, including the allottees, to ensure transparency and facilitate the resolution process. They also contended that
…Company Petition No.(IB)77/ALD/2017 was filed…
Order of Hon'ble Supreme Court of India vide…