The case involves multiple applications (IA NO. 116/2020, IA NO.136/2020, IA NO.161/2020, IA NO.213/2020, IA NO.252/2020 & IA NO. 253/2020) filed in connection with a Company Petition (IB)No.342/ALD/2018. The Corporate Debtor, M/S Baghauli Sugar & Distillery Limited, is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by Bank of Baroda under Section 7 of the IBC. The applications primarily seek to restrain the Resolution Professional (RP) from finalizing the Resolution applicant or the Resolution plan and to set aside steps taken by the RP, specifically concerning the issuance and reissuance of Form-G. The Corporate Debtor, through its Suspended Director, filed the present IAs under Section 60(5) of the IBC, 2016 read with Rule 11 of the NCLT
…Bank of Baroda initiated CIRP against M/S Baghauli Sugar & Distillery Limited under Section 7 of the IBC. The Tribunal admitted the petition on 2020-02-07. Vivek Raheja was appointed as IRP and later confirmed as Resolution Professional. After the admission of the petition, the Corporate Debtor offered to settle the outstanding dues with the Financial Creditors. The COC acknowledged the settlement proposal on 2020-07-09 and was discussing terms. The RP published Form-G on 2020-06-11 inviting expression of interest. The Corporate Debtor contended that the RP's actions of reissuing Form-G on 2020-08-13 and 2020-10-06 were illegal. The COC authorized the RP to issue Form-G on 2020-08-06. The RP stated that the CIRP was in an advanced stage, with a final list of
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Company Pet…
CIRP initiated on the Company Petition filed by…
The case involves multiple applications (IA NO. 116/2020, IA NO.136/2020, IA NO.161/2020, IA NO.213/2020, IA NO.252/2020 & IA NO. 253/2020) filed in connection with a Company Petition (IB)No.342/ALD/2018. The Corporate Debtor, M/S Baghauli Sugar & Distillery Limited, is undergoing Corporate Insolvency Resolution Process (CIRP) initiated by Bank of Baroda under Section 7 of the IBC. The applications primarily seek to restrain the Resolution Professional (RP) from finalizing the Resolution applicant or the Resolution plan and to set aside steps taken by the RP, specifically concerning the issuance and reissuance of Form-G. The Corporate Debtor, through its Suspended Director, filed the present IAs under Section 60(5) of the IBC, 2016 read with Rule 11 of the NCLT
…Bank of Baroda initiated CIRP against M/S Baghauli Sugar & Distillery Limited under Section 7 of the IBC. The Tribunal admitted the petition on 2020-02-07. Vivek Raheja was appointed as IRP and later confirmed as Resolution Professional. After the admission of the petition, the Corporate Debtor offered to settle the outstanding dues with the Financial Creditors. The COC acknowledged the settlement proposal on 2020-07-09 and was discussing terms. The RP published Form-G on 2020-06-11 inviting expression of interest. The Corporate Debtor contended that the RP's actions of reissuing Form-G on 2020-08-13 and 2020-10-06 were illegal. The COC authorized the RP to issue Form-G on 2020-08-06. The RP stated that the CIRP was in an advanced stage, with a final list of
…Company Pet…
CIRP initiated on the Company Petition filed by…