The Interlocutory Application (IA No.212/CTB/2020) was filed by the H.I.W. Workers' Union under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), against Nandakini Contractors Private Limited (the Financial Creditor), Hirakud Industrial Works Limited (the Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional of the Corporate Debtor). The applicant sought directions from the Adjudicating Authority to maintain the status quo regarding the nature and character of the lands belonging to the Corporate Debtor. In CP(IB) No. 01/CTB/2019, the Adjudicating Authority had previously issued directions to the petitioner and the Resolution Professional and posted the matter for further hearing on 20.03.2020. Due to the COVID-19 pandemic and subsequent
…The H.I.W. Workers' Union filed an Interlocutory Application (IA No.212/CTB/2020) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), against Nandakini Contractors Private Limited (the Financial Creditor), Hirakund Industrial Works Limited (the Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional of the Corporate Debtor). The Union sought the maintenance of status quo regarding the land belonging to Hirakund Industrial Works Limited. The Union alleged that unknown persons had entered the Corporate Debtor's land and started development activity, despite the moratorium under section 14 of the IBC. The Applicants lodged a complaint dated 27.07.2020 before the Government of Odisha authorities and brought to their notice the illegal
…Sign in to view the parties.
Filing of CP(…
Adjudicating Authority issued directions…
The Interlocutory Application (IA No.212/CTB/2020) was filed by the H.I.W. Workers' Union under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), against Nandakini Contractors Private Limited (the Financial Creditor), Hirakud Industrial Works Limited (the Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional of the Corporate Debtor). The applicant sought directions from the Adjudicating Authority to maintain the status quo regarding the nature and character of the lands belonging to the Corporate Debtor. In CP(IB) No. 01/CTB/2019, the Adjudicating Authority had previously issued directions to the petitioner and the Resolution Professional and posted the matter for further hearing on 20.03.2020. Due to the COVID-19 pandemic and subsequent
…The H.I.W. Workers' Union filed an Interlocutory Application (IA No.212/CTB/2020) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), against Nandakini Contractors Private Limited (the Financial Creditor), Hirakund Industrial Works Limited (the Corporate Debtor), and Mr. Ananda Rao Korada (Resolution Professional of the Corporate Debtor). The Union sought the maintenance of status quo regarding the land belonging to Hirakund Industrial Works Limited. The Union alleged that unknown persons had entered the Corporate Debtor's land and started development activity, despite the moratorium under section 14 of the IBC. The Applicants lodged a complaint dated 27.07.2020 before the Government of Odisha authorities and brought to their notice the illegal
…Filing of CP(…
Adjudicating Authority issued directions…