The case involves an application filed by CA Kannan Tiruvengadam, the Resolution Professional (RP) appointed to conduct the Corporate Insolvency Resolution Process (CIRP) for Assam Company India Limited. The CIRP was initiated following an application by Srei Infrastructure Finance Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The RP sought an exclusion of 22 days from the CIRP timeline and an extension to allow the process to continue until August 14, 2018, due to delays caused by challenges to eligibility criteria for prospective resolution applicants (PRAs).
Srei Infrastructure Finance Limited initiated Corporate Insolvency Resolution Process (CIRP) against Assam Company India Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. CA Kannan Tiruvengadam was appointed as the Resolution Professional (RP). The RP published an advertisement inviting Expression of Interest (EOI) from prospective resolution applicants (PRAs). M/s M.K. Shah Exports Ltd. challenged the eligibility criteria, specifically the minimum Tangible Net Worth (TNW) of INR 400 crores for Category 'A' PRAs. The NCLT initially ordered the RP/COC to reconsider the eligibility criteria, leading to an appeal to NCLAT, which stayed the NCLT's order. The RP then opened the EOIs received from PRAs. The RP sought an extension of time for completing the
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Srei Infrastructure Finance Limited filed an…
The N.C.L.T., Guwahati, admitted the…
The case involves an application filed by CA Kannan Tiruvengadam, the Resolution Professional (RP) appointed to conduct the Corporate Insolvency Resolution Process (CIRP) for Assam Company India Limited. The CIRP was initiated following an application by Srei Infrastructure Finance Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. The RP sought an exclusion of 22 days from the CIRP timeline and an extension to allow the process to continue until August 14, 2018, due to delays caused by challenges to eligibility criteria for prospective resolution applicants (PRAs).
Srei Infrastructure Finance Limited initiated Corporate Insolvency Resolution Process (CIRP) against Assam Company India Limited under Section 7 of the Insolvency and Bankruptcy Code, 2016. CA Kannan Tiruvengadam was appointed as the Resolution Professional (RP). The RP published an advertisement inviting Expression of Interest (EOI) from prospective resolution applicants (PRAs). M/s M.K. Shah Exports Ltd. challenged the eligibility criteria, specifically the minimum Tangible Net Worth (TNW) of INR 400 crores for Category 'A' PRAs. The NCLT initially ordered the RP/COC to reconsider the eligibility criteria, leading to an appeal to NCLAT, which stayed the NCLT's order. The RP then opened the EOIs received from PRAs. The RP sought an extension of time for completing the
…Srei Infrastructure Finance Limited filed an…
The N.C.L.T., Guwahati, admitted the…