The applicant sought a direction to the respondent to accept the Expression of Interest (Eol) of the applicant. The applicant submitted that he responded to the Eol dated 26.12.2018. The Resolution Professional (RP) stated that the proposal was placed before the Committee of Creditors (CoCs) in its 5th meeting dated 07.01.2019. The applicant was declared ineligible on 29.12.2018 because he could not provide a demand draft for Rs. 10 lakhs and a non-refundable fee of Rs. 2500, which were mandatory conditions. The applicant stated that his father was admitted to the hospital and discharged on 30.12.2018, and he requested the RP to consider his proposal, but it was not considered. The applicant referred to Insolvency Resolution Regulation, 2016, which states that there is
…M.Gagan Bothra filed an application (MA/39/2019) seeking a direction for Ebenezer Inbaraj (Resolution Professional) to accept his Expression of Interest (Eol). Bothra submitted an Eol on 26.12.2018. The RP presented the proposal to the CoC in its 5th meeting on 07.01.2019. Bothra was declared ineligible on 29.12.2018 for failing to provide a demand draft of Rs. 10 lakhs and a non-refundable fee of Rs. 2500, mandatory conditions for the bid. Bothra claimed his father's hospitalization on 30.12.2018 prevented him from meeting the requirements and requested the RP to reconsider. He argued that the CoC's demand for fees contradicted the Insolvency Resolution Regulation, 2016, which doesn't require such payments for Eol submission. The CIRP period of 180 days was completed
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Applicant declared ineligible by CoCs for…
The applicant sought a direction to the respondent to accept the Expression of Interest (Eol) of the applicant. The applicant submitted that he responded to the Eol dated 26.12.2018. The Resolution Professional (RP) stated that the proposal was placed before the Committee of Creditors (CoCs) in its 5th meeting dated 07.01.2019. The applicant was declared ineligible on 29.12.2018 because he could not provide a demand draft for Rs. 10 lakhs and a non-refundable fee of Rs. 2500, which were mandatory conditions. The applicant stated that his father was admitted to the hospital and discharged on 30.12.2018, and he requested the RP to consider his proposal, but it was not considered. The applicant referred to Insolvency Resolution Regulation, 2016, which states that there is
…M.Gagan Bothra filed an application (MA/39/2019) seeking a direction for Ebenezer Inbaraj (Resolution Professional) to accept his Expression of Interest (Eol). Bothra submitted an Eol on 26.12.2018. The RP presented the proposal to the CoC in its 5th meeting on 07.01.2019. Bothra was declared ineligible on 29.12.2018 for failing to provide a demand draft of Rs. 10 lakhs and a non-refundable fee of Rs. 2500, mandatory conditions for the bid. Bothra claimed his father's hospitalization on 30.12.2018 prevented him from meeting the requirements and requested the RP to reconsider. He argued that the CoC's demand for fees contradicted the Insolvency Resolution Regulation, 2016, which doesn't require such payments for Eol submission. The CIRP period of 180 days was completed
…Applicant sub…
Applicant declared ineligible by CoCs for…