The case involves an application filed by the Respondent seeking dismissal of the petition due to duplication of claims by the Financial Creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Moser Baer India Limited (Corporate Guarantor) on 2017-11-14, based on a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Alchemist Asset Reconstruction Company Limited. Debendra Singh was appointed as the Interim Resolution Professional. Subsequently, Anil Kohli replaced Debendra Singh as the Resolution Professional. The Committee of Creditors (CoC) decided to liquidate Moser Baer India Limited due to the absence of a resolution plan, which was approved by the NCLT on 2018-09-20. Anil Kohli was appointed as the Liquidator.
Oriental Bank of Commerce (Financial Creditor/Applicant) filed a petition against Helios Photo Voltaic Limited (Corporate Debtor/Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Respondent filed an application seeking dismissal of the petition, arguing that the claim was a duplication of a claim already filed against Moser Baer India Limited (Corporate Guarantor). The CIRP against Moser Baer India Limited was initiated on 2017-11-14, and liquidation was ordered on 2018-09-20. Oriental Bank of Commerce had already lodged its claim with the Liquidator of Moser Baer India Limited, which was admitted. The Financial Creditor argued that it was treated as an unsecured creditor in the liquidation proceedings of Moser Baer India Limited, while it is
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Corporate Insolvency Resolution Process was…
Anil Kohli replaced…
The case involves an application filed by the Respondent seeking dismissal of the petition due to duplication of claims by the Financial Creditor. The Corporate Insolvency Resolution Process (CIRP) was initiated against Moser Baer India Limited (Corporate Guarantor) on 2017-11-14, based on a petition under Section 7 of the Insolvency and Bankruptcy Code (IBC) filed by Alchemist Asset Reconstruction Company Limited. Debendra Singh was appointed as the Interim Resolution Professional. Subsequently, Anil Kohli replaced Debendra Singh as the Resolution Professional. The Committee of Creditors (CoC) decided to liquidate Moser Baer India Limited due to the absence of a resolution plan, which was approved by the NCLT on 2018-09-20. Anil Kohli was appointed as the Liquidator.
Oriental Bank of Commerce (Financial Creditor/Applicant) filed a petition against Helios Photo Voltaic Limited (Corporate Debtor/Respondent) under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Respondent filed an application seeking dismissal of the petition, arguing that the claim was a duplication of a claim already filed against Moser Baer India Limited (Corporate Guarantor). The CIRP against Moser Baer India Limited was initiated on 2017-11-14, and liquidation was ordered on 2018-09-20. Oriental Bank of Commerce had already lodged its claim with the Liquidator of Moser Baer India Limited, which was admitted. The Financial Creditor argued that it was treated as an unsecured creditor in the liquidation proceedings of Moser Baer India Limited, while it is
…Corporate Insolvency Resolution Process was…
Anil Kohli replaced…