This case involves an application (IA 52 of 2018) filed by Reliance Marine and Offshore Limited, the Corporate Debtor, in connection with CP(IB) No. 171 of 2017. IFCI Limited initiated the Corporate Insolvency Resolution Process (CIRP) against Reliance Marine and Offshore Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. IFCI Limited also filed CP(IB) No. 172 of 2017 against Reliance Naval and Engineering Limited, styling itself as Financial Creditor. Reliance Marine and Offshore Limited requested an adjournment in CP(IB) No. 171 of 2017, arguing that proceedings against both the Principal Borrower (Reliance Marine) and the Corporate Guarantor (Reliance Naval) should proceed simultaneously. This request was rejected by the Adjudicating
…IFCI Limited filed CP(IB) No. 171 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Reliance Marine and Offshore Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). IFCI Limited also filed CP(IB) No. 172 of 2017 against Reliance Naval and Engineering Limited, acting as a Financial Creditor. Reliance Marine and Offshore Limited requested an adjournment in CP(IB) No. 171 of 2017, arguing that proceedings against both the Principal Borrower (Reliance Marine) and the Corporate Guarantor (Reliance Naval) should proceed simultaneously. This request was rejected. Reliance Marine and Offshore Limited appealed to the NCLAT (Company Appeal No. 40 of 2018). The NCLAT noted that a similar question was pending before it.
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IFCI Limited filed CP(IB) No. 171 of 2017…
IFCI Limited filed…
This case involves an application (IA 52 of 2018) filed by Reliance Marine and Offshore Limited, the Corporate Debtor, in connection with CP(IB) No. 171 of 2017. IFCI Limited initiated the Corporate Insolvency Resolution Process (CIRP) against Reliance Marine and Offshore Limited under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. IFCI Limited also filed CP(IB) No. 172 of 2017 against Reliance Naval and Engineering Limited, styling itself as Financial Creditor. Reliance Marine and Offshore Limited requested an adjournment in CP(IB) No. 171 of 2017, arguing that proceedings against both the Principal Borrower (Reliance Marine) and the Corporate Guarantor (Reliance Naval) should proceed simultaneously. This request was rejected by the Adjudicating
…IFCI Limited filed CP(IB) No. 171 of 2017 under Section 7 of the Insolvency and Bankruptcy Code, 2016, against Reliance Marine and Offshore Limited, seeking to initiate the Corporate Insolvency Resolution Process (CIRP). IFCI Limited also filed CP(IB) No. 172 of 2017 against Reliance Naval and Engineering Limited, acting as a Financial Creditor. Reliance Marine and Offshore Limited requested an adjournment in CP(IB) No. 171 of 2017, arguing that proceedings against both the Principal Borrower (Reliance Marine) and the Corporate Guarantor (Reliance Naval) should proceed simultaneously. This request was rejected. Reliance Marine and Offshore Limited appealed to the NCLAT (Company Appeal No. 40 of 2018). The NCLAT noted that a similar question was pending before it.
…IFCI Limited filed CP(IB) No. 171 of 2017…
IFCI Limited filed…