The case involves multiple applications filed by Operational Creditors and a Financial Creditor against M/s. Appu Hotels Limited, the Corporate Debtor, under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditors sought condonation of delay in submitting their claims to the Resolution Professional (RP), while the Financial Creditor sought adjudication and admission of its claim. The applications were filed due to the rejection of claims or non-admission of claims by the RP. The Corporate Insolvency Resolution Process (CIRP) had already been initiated, and a Resolution Plan was pending approval before the Adjudicating Authority.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Appu Hotels Limited. Several Operational Creditors filed applications seeking condonation of delay in submitting their claims to the Resolution Professional (RP). These creditors claimed they were unaware of the CIRP initiation due to limited circulation of paper publications and lockdown restrictions. The applications included IA/247/CHE/2021 (Aspri Spirits Pvt. Ltd.), IA/248/CHE/2021 (Vinspri Distributors Pvt. Ltd.), IA/446/CHE/2021 (Balaji Foods), IA/447/CHE/2021 (New Kwality Dairy), and Cont. A/03/CHE/2021 (Crescent Sea Foods). The RP argued that the claims were submitted after the prescribed timelines and that admitting them would disrupt the resolution process. A Financial Creditor, R.
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The Tribunal initiated the Corporate Insolvency…
The Interim Resolution Professional (IRP)…
The case involves multiple applications filed by Operational Creditors and a Financial Creditor against M/s. Appu Hotels Limited, the Corporate Debtor, under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016. The Operational Creditors sought condonation of delay in submitting their claims to the Resolution Professional (RP), while the Financial Creditor sought adjudication and admission of its claim. The applications were filed due to the rejection of claims or non-admission of claims by the RP. The Corporate Insolvency Resolution Process (CIRP) had already been initiated, and a Resolution Plan was pending approval before the Adjudicating Authority.
The Corporate Insolvency Resolution Process (CIRP) was initiated against M/s. Appu Hotels Limited. Several Operational Creditors filed applications seeking condonation of delay in submitting their claims to the Resolution Professional (RP). These creditors claimed they were unaware of the CIRP initiation due to limited circulation of paper publications and lockdown restrictions. The applications included IA/247/CHE/2021 (Aspri Spirits Pvt. Ltd.), IA/248/CHE/2021 (Vinspri Distributors Pvt. Ltd.), IA/446/CHE/2021 (Balaji Foods), IA/447/CHE/2021 (New Kwality Dairy), and Cont. A/03/CHE/2021 (Crescent Sea Foods). The RP argued that the claims were submitted after the prescribed timelines and that admitting them would disrupt the resolution process. A Financial Creditor, R.
…The Tribunal initiated the Corporate Insolvency…
The Interim Resolution Professional (IRP)…