The case pertains to CA No. 176/2019 in CP No. (IB) 55/ALD/2017, filed before the Allahabad Bench of the National Company Law Tribunal (NCLT). The applicant, Arun Gupta, the liquidator of M/s LML Ltd., sought permission to modify the list of stakeholders in accordance with Regulation 31(3) of the IBBI (Liquidation Process) Regulations, 2016, read with Section 36(4)(a)(iii) of the IBC. The initial list of stakeholders was submitted based on proofs of claims received by June 25, 2019. However, the liquidator received additional information and new claims, necessitating modifications to the list.
The liquidator of M/s LML Ltd. filed an application to modify the list of stakeholders. The initial list was submitted by June 25, 2019, based on claims received. The liquidator received additional information, new claims, and faced orders from adjudicating authorities requiring consideration of claims filed after the due date (May 11, 2018). The modifications involved 2203 workmen, 214 employees, and 54 operational creditors. The reasons for modification included updating books of accounts, receiving additional documents, new claims, correcting typo errors, and segregating gratuity amounts. Section 36(4)(a)(iii) of the IBC was relevant, clarifying that workmen's dues from provident fund, pension fund, and gratuity fund are not part of the liquidation estate. Several
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Corporate Insolvency…
Liquidator submitted…
The case pertains to CA No. 176/2019 in CP No. (IB) 55/ALD/2017, filed before the Allahabad Bench of the National Company Law Tribunal (NCLT). The applicant, Arun Gupta, the liquidator of M/s LML Ltd., sought permission to modify the list of stakeholders in accordance with Regulation 31(3) of the IBBI (Liquidation Process) Regulations, 2016, read with Section 36(4)(a)(iii) of the IBC. The initial list of stakeholders was submitted based on proofs of claims received by June 25, 2019. However, the liquidator received additional information and new claims, necessitating modifications to the list.
The liquidator of M/s LML Ltd. filed an application to modify the list of stakeholders. The initial list was submitted by June 25, 2019, based on claims received. The liquidator received additional information, new claims, and faced orders from adjudicating authorities requiring consideration of claims filed after the due date (May 11, 2018). The modifications involved 2203 workmen, 214 employees, and 54 operational creditors. The reasons for modification included updating books of accounts, receiving additional documents, new claims, correcting typo errors, and segregating gratuity amounts. Section 36(4)(a)(iii) of the IBC was relevant, clarifying that workmen's dues from provident fund, pension fund, and gratuity fund are not part of the liquidation estate. Several
…Corporate Insolvency…
Liquidator submitted…