IA (IB) No. 746/KB/2022 was filed by CFM Asset Reconstruction Private Limited, acting as Trustee of CFMARC Trust 81, against Mr. Kshitiz Chhawchharia, the Chairman of the erstwhile monitoring committee, and SS Natural Resources Private Limited, the Successful Resolution Applicant (SRA) for Ramsarup Industries. The application sought various reliefs, as detailed in Para 59 of the IA, aiming to nullify the entire resolution process. The applicant contended that the Chairman of the Monitoring Committee had violated the terms of the approved Resolution Plan and unilaterally modified it, preventing the applicant from receiving its legitimate share.

IA (IB) No. 746/KB/2022 was filed by CFM Asset Reconstruction Private Limited, acting as Trustee of CFMARC Trust 81, against Mr. Kshitiz Chhawchharia, the Chairman of the erstwhile monitoring committee, and SS Natural Resources Private Limited, the Successful Resolution Applicant (SRA) for Ramsarup Industries. The application sought various reliefs, as detailed in Para 59 of the IA, aiming to nullify the entire resolution process. The applicant contended that the Chairman of the Monitoring Committee had violated the terms of the approved Resolution Plan and unilaterally modified it, preventing the applicant from receiving its legitimate share.