This case involves an application filed by Kalyan Toll Infrastructure Limited, the successful resolution applicant, under section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking clarification of certain portions of an order dated 2021-04-26 passed in IA No. 652 of 2020 in C.P (IB) No. 133/7/HDB/2019. The applicant sought clarification regarding waivers and reliefs sought in the resolution plan, particularly concerning dues claimed by the National Highway Authority of India (NHAI).
Kalyan Toll Infrastructure Limited, the successful resolution applicant, filed an application seeking clarification of an order passed by the Adjudicating Authority. The clarification was sought because NHAI, a creditor, was demanding past dues from the Corporate Debtor, Lanco Hoskote Highway Ltd, despite the approval of the resolution plan. NHAI claimed these dues as penalties for not maintaining the road properly. The applicant argued that NHAI, as a creditor, was bound by the resolution plan, which extinguished all past dues. The Adjudicating Authority had previously directed NHAI to consider the resolution applicant's request for waivers favorably. NHAI contended that the application was an attempt to review the original order and that the order was already clear.
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Order passed in IA No.652 of 2020 in C.P (IB)…
Hearing held…
This case involves an application filed by Kalyan Toll Infrastructure Limited, the successful resolution applicant, under section 60(5) of the Insolvency & Bankruptcy Code, 2016, seeking clarification of certain portions of an order dated 2021-04-26 passed in IA No. 652 of 2020 in C.P (IB) No. 133/7/HDB/2019. The applicant sought clarification regarding waivers and reliefs sought in the resolution plan, particularly concerning dues claimed by the National Highway Authority of India (NHAI).
Kalyan Toll Infrastructure Limited, the successful resolution applicant, filed an application seeking clarification of an order passed by the Adjudicating Authority. The clarification was sought because NHAI, a creditor, was demanding past dues from the Corporate Debtor, Lanco Hoskote Highway Ltd, despite the approval of the resolution plan. NHAI claimed these dues as penalties for not maintaining the road properly. The applicant argued that NHAI, as a creditor, was bound by the resolution plan, which extinguished all past dues. The Adjudicating Authority had previously directed NHAI to consider the resolution applicant's request for waivers favorably. NHAI contended that the application was an attempt to review the original order and that the order was already clear.
Order passed in IA No.652 of 2020 in C.P (IB)…
Hearing held…