The case involves an application bearing CA No. 146/2019 in CP No.(IB)120/ALD/2017 before the National Company Law Tribunal, Allahabad Bench. The applicant seeks scrutiny of the application and directions regarding the Committee of Creditors (COC) meeting. The Resolution Professional (RP) seeks urgent directions from the court to permit the COC to conduct a further meeting to discuss and decide the urgent agenda, even though the 270-day period of the Corporate Insolvency Resolution Process (CIRP) is over. An application seeking liquidation is under consideration.
The case is before the National Company Law Tribunal, Allahabad Bench, concerning CA No. 146/2019 in CP No.(IB)120/ALD/2017. M/s Rana Saria Poly Pack Pvt Ltd is involved in a case against Uniword sugars Pvt. Ltd. Ms. Babita Jain, PCS for RP, is present and moves an application. The registry is directed to scrutinize the application and issue notice to the Member of COC and the Suspended Management of the Corporate Debtor Company. The RP seeks urgent directions to permit the COC to conduct a further meeting to discuss and decide the urgent agenda, even though the 270-day period of CIRP has expired. An application for liquidation is under consideration. The court notes that the RP has not been discharged, and the COC cannot be treated as functus officio until a formal
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Hearing of Allahabad…
Order issued directing…
The case involves an application bearing CA No. 146/2019 in CP No.(IB)120/ALD/2017 before the National Company Law Tribunal, Allahabad Bench. The applicant seeks scrutiny of the application and directions regarding the Committee of Creditors (COC) meeting. The Resolution Professional (RP) seeks urgent directions from the court to permit the COC to conduct a further meeting to discuss and decide the urgent agenda, even though the 270-day period of the Corporate Insolvency Resolution Process (CIRP) is over. An application seeking liquidation is under consideration.
The case is before the National Company Law Tribunal, Allahabad Bench, concerning CA No. 146/2019 in CP No.(IB)120/ALD/2017. M/s Rana Saria Poly Pack Pvt Ltd is involved in a case against Uniword sugars Pvt. Ltd. Ms. Babita Jain, PCS for RP, is present and moves an application. The registry is directed to scrutinize the application and issue notice to the Member of COC and the Suspended Management of the Corporate Debtor Company. The RP seeks urgent directions to permit the COC to conduct a further meeting to discuss and decide the urgent agenda, even though the 270-day period of CIRP has expired. An application for liquidation is under consideration. The court notes that the RP has not been discharged, and the COC cannot be treated as functus officio until a formal
…Hearing of Allahabad…
Order issued directing…