The case involves an application (MA 1925/2019) for urgent listing of MA 775/2019, filed by the Resolution Professional under Section 33(2) of the IBC, 2016, seeking liquidation of the Corporate Debtor, Norton Aluminum India Pvt Ltd. An earlier petition filed by the Corporate Applicant under Section 10 of IBC, 2016, for initiating CIRP was admitted on 22.6.2018, and an IRP was appointed. Two Resolution Applicants, Jainco Projects India Ltd and Standard Retail Pvt Ltd, were identified. An extension was granted for submission of documents, ratified by the CoC on 27.9.2018.
On 22.6.2018, a petition under Section 10 of the IBC, 2016, was admitted, initiating CIRP for Norton Aluminum India Pvt Ltd, and an IRP was appointed. Two Resolution Applicants, Jainco Projects India Ltd and Standard Retail Pvt Ltd, were identified. Jainco Projects India Ltd did not provide a resolution plan. Standard Retail Pvt Ltd submitted a resolution plan, which was discussed in the 6th CoC meeting on 22.11.2018. The CoC requested improvements to the plan. A revised plan was submitted, but the CoC again asked for revisions. The CoC extended the CIRP period by 90 days on 15.12.2018, approved by the Bench on 20.12.2018, extending the period until 19.3.2019. The final resolution plan was rejected by the CoC on 8.2.2019 because the offer was unsatisfactory. The CoC
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Petition filed by the Corporate Applicant under…
The 4th meeting of the CoC was held, where an…
The case involves an application (MA 1925/2019) for urgent listing of MA 775/2019, filed by the Resolution Professional under Section 33(2) of the IBC, 2016, seeking liquidation of the Corporate Debtor, Norton Aluminum India Pvt Ltd. An earlier petition filed by the Corporate Applicant under Section 10 of IBC, 2016, for initiating CIRP was admitted on 22.6.2018, and an IRP was appointed. Two Resolution Applicants, Jainco Projects India Ltd and Standard Retail Pvt Ltd, were identified. An extension was granted for submission of documents, ratified by the CoC on 27.9.2018.
On 22.6.2018, a petition under Section 10 of the IBC, 2016, was admitted, initiating CIRP for Norton Aluminum India Pvt Ltd, and an IRP was appointed. Two Resolution Applicants, Jainco Projects India Ltd and Standard Retail Pvt Ltd, were identified. Jainco Projects India Ltd did not provide a resolution plan. Standard Retail Pvt Ltd submitted a resolution plan, which was discussed in the 6th CoC meeting on 22.11.2018. The CoC requested improvements to the plan. A revised plan was submitted, but the CoC again asked for revisions. The CoC extended the CIRP period by 90 days on 15.12.2018, approved by the Bench on 20.12.2018, extending the period until 19.3.2019. The final resolution plan was rejected by the CoC on 8.2.2019 because the offer was unsatisfactory. The CoC
…Petition filed by the Corporate Applicant under…
The 4th meeting of the CoC was held, where an…