The case involves an application filed by NRI & RI Welfare Federal Co-operative society Ltd. against the Resolution Professional and PVS Memorial Hospital and its Committee of Creditors, seeking to declare the Resolution Plan submitted by the 3rd respondent illegal and in violation of Section 60(5) of I&B Code and Regulation 35(2) of IBBI Regulations, 2016, and to set aside the Resolution Plan and direct the respondent to consider the applicant's resolution plan. The applicant claims they were prevented from submitting a resolution application and that the 1st Respondent violated Section 61(3)(ii) of IBC by favoring an existing Resolution Applicant.
NRI & RI Welfare Federal Co-operative society Ltd. filed an application (IA(IBC)56/KOB/2021) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, against the Resolution Professional, PVS Memorial Hospital, and its Committee of Creditors. The applicant sought a declaration that the Resolution Plan submitted by the 3rd respondent was illegal and in violation of Section 60(5) of the I&B Code and Regulation 35(2) of IBBI Regulations, 2016. They also sought to set aside the Resolution Plan and have their own plan considered. The applicant claimed they were prevented from submitting a Resolution Application due to the actions of the respondents and that the 1st Respondent violated Section 61(3)(ii) of IBC by favoring an existing Resolution Applicant. The
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Application IA(IBC)56/KOB/…
Deliberations on the…
The case involves an application filed by NRI & RI Welfare Federal Co-operative society Ltd. against the Resolution Professional and PVS Memorial Hospital and its Committee of Creditors, seeking to declare the Resolution Plan submitted by the 3rd respondent illegal and in violation of Section 60(5) of I&B Code and Regulation 35(2) of IBBI Regulations, 2016, and to set aside the Resolution Plan and direct the respondent to consider the applicant's resolution plan. The applicant claims they were prevented from submitting a resolution application and that the 1st Respondent violated Section 61(3)(ii) of IBC by favoring an existing Resolution Applicant.
NRI & RI Welfare Federal Co-operative society Ltd. filed an application (IA(IBC)56/KOB/2021) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, against the Resolution Professional, PVS Memorial Hospital, and its Committee of Creditors. The applicant sought a declaration that the Resolution Plan submitted by the 3rd respondent was illegal and in violation of Section 60(5) of the I&B Code and Regulation 35(2) of IBBI Regulations, 2016. They also sought to set aside the Resolution Plan and have their own plan considered. The applicant claimed they were prevented from submitting a Resolution Application due to the actions of the respondents and that the 1st Respondent violated Section 61(3)(ii) of IBC by favoring an existing Resolution Applicant. The
…Application IA(IBC)56/KOB/…
Deliberations on the…