The case involves a Resolution Plan presented before the Mumbai Bench of the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Act. The Resolution Professional (R.P.) has annexed a Resolution Plan for consideration by the Bench. Two Operational Creditors and one Financial Creditor are seeking a copy of the Resolution Plan.
The case is before the Mumbai Bench of the National Company Law Tribunal (NCLT). A Resolution Plan has been annexed by the Resolution Professional (R.P.) for consideration. Two Operational Creditors and one Financial Creditor are seeking copies of the Resolution Plan. The Bench has determined that the decision to provide copies of the Resolution Plan lies with the Resolution Professional, contingent on its admissibility under law and approval by the Committee of Creditors (CoC). The Respondent Applicant has tendered a Fixed Deposit Receipt (F.D.R.) of Rupees Ten Lakhs, which is to be deposited in an Escrow Account of the Bank. This amount is to be retained as security by the Financial Creditor in State Bank of India and cannot be liquidated, disbursed, or adjusted
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Hearing of Mumbai Bench…
Case adjourned…
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The case involves a Resolution Plan presented before the Mumbai Bench of the National Company Law Tribunal (NCLT) under Section 9 of the Insolvency and Bankruptcy Act. The Resolution Professional (R.P.) has annexed a Resolution Plan for consideration by the Bench. Two Operational Creditors and one Financial Creditor are seeking a copy of the Resolution Plan.
The case is before the Mumbai Bench of the National Company Law Tribunal (NCLT). A Resolution Plan has been annexed by the Resolution Professional (R.P.) for consideration. Two Operational Creditors and one Financial Creditor are seeking copies of the Resolution Plan. The Bench has determined that the decision to provide copies of the Resolution Plan lies with the Resolution Professional, contingent on its admissibility under law and approval by the Committee of Creditors (CoC). The Respondent Applicant has tendered a Fixed Deposit Receipt (F.D.R.) of Rupees Ten Lakhs, which is to be deposited in an Escrow Account of the Bank. This amount is to be retained as security by the Financial Creditor in State Bank of India and cannot be liquidated, disbursed, or adjusted
…Hearing of Mumbai Bench…
Case adjourned…
Sign in to view related legal provisions.