The applicant, a suspended director and personal guarantor of the corporate debtor, filed an application challenging the Resolution Professional's (RP) decision to simultaneously invite Expressions of Interest (EOI) for the corporate debtor as a whole and for its business clusters, arguing it violated the Insolvency and Bankruptcy Code, 2016 and its regulations.
Sunil Kumar Sharma, a suspended director and personal guarantor of Jaiprakash Associates Limited (corporate debtor), filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The application sought to quash and set aside Agenda Items 7 and 8 of the 7th Committee of Creditors (CoC) meeting and E-Voting Agenda Item No. 4, along with the consequential resolution passed by the CoC on December 19, 2024, with an 81.80% voting share, alleging contravention of the Code and Regulations.
…The 7th Committee of Creditors (CoC) meeting…
The matter came up for hearing, and notice was…
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The applicant, a suspended director and personal guarantor of the corporate debtor, filed an application challenging the Resolution Professional's (RP) decision to simultaneously invite Expressions of Interest (EOI) for the corporate debtor as a whole and for its business clusters, arguing it violated the Insolvency and Bankruptcy Code, 2016 and its regulations.
Sunil Kumar Sharma, a suspended director and personal guarantor of Jaiprakash Associates Limited (corporate debtor), filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016. The application sought to quash and set aside Agenda Items 7 and 8 of the 7th Committee of Creditors (CoC) meeting and E-Voting Agenda Item No. 4, along with the consequential resolution passed by the CoC on December 19, 2024, with an 81.80% voting share, alleging contravention of the Code and Regulations.
…The 7th Committee of Creditors (CoC) meeting…
The matter came up for hearing, and notice was…
Sign in to view related legal provisions.