The case involves an application filed by the Resolution Professional under Section 60(5)(a)(c) read with Section 25 of the Insolvency and Bankruptcy Code, 2016, seeking directions to Respondents 2 to 7 not to withhold permission for providing railway wagons for transporting coking coal and iron ore to the Corporate Debtor. The Corporate Debtor requires these materials to continue operating as a going concern during the Corporate Insolvency Resolution Process (CIRP). An earlier application by the Resolution Professional sought permission for the Corporate Debtor to procure, store, and transport coking coal and iron ore from their jurisdiction to the Bokaro Plant. The Director of Mines, Odisha, had replied that procurement of raw materials could be allowed upon receipt
…The State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Electrosteel Steels Limited, the Corporate Debtor. The Resolution Professional (RP) filed an application seeking permission for the Corporate Debtor to procure, store, and transport coking coal and iron ore, essential for its operations as a going concern. The RP requested directions to Respondents 2 to 7 not to withhold permission for providing railway wagons (rakes) for transporting these materials. The Director of Mines, Odisha, indicated that raw material procurement could be allowed upon receipt of a Certificate to Operate (CTO) from the JSPCB. The Corporate Debtor had applied for a CTO, but the JSPCB granted a CTO valid only until 31.12.2017. The CIRP period was set to expire
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Corporate Debtor filed an application before…
The case involves an application filed by the Resolution Professional under Section 60(5)(a)(c) read with Section 25 of the Insolvency and Bankruptcy Code, 2016, seeking directions to Respondents 2 to 7 not to withhold permission for providing railway wagons for transporting coking coal and iron ore to the Corporate Debtor. The Corporate Debtor requires these materials to continue operating as a going concern during the Corporate Insolvency Resolution Process (CIRP). An earlier application by the Resolution Professional sought permission for the Corporate Debtor to procure, store, and transport coking coal and iron ore from their jurisdiction to the Bokaro Plant. The Director of Mines, Odisha, had replied that procurement of raw materials could be allowed upon receipt
…The State Bank of India initiated Corporate Insolvency Resolution Process (CIRP) against Electrosteel Steels Limited, the Corporate Debtor. The Resolution Professional (RP) filed an application seeking permission for the Corporate Debtor to procure, store, and transport coking coal and iron ore, essential for its operations as a going concern. The RP requested directions to Respondents 2 to 7 not to withhold permission for providing railway wagons (rakes) for transporting these materials. The Director of Mines, Odisha, indicated that raw material procurement could be allowed upon receipt of a Certificate to Operate (CTO) from the JSPCB. The Corporate Debtor had applied for a CTO, but the JSPCB granted a CTO valid only until 31.12.2017. The CIRP period was set to expire
…The Insolven…
Corporate Debtor filed an application before…