This case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by a shareholder of Sarbat Cotfab Private Limited (Corporate Debtor). The applicant objects to the resolution plan submitted by the second respondent, arguing that the second respondent is barred from submitting a resolution plan under Section 29A of the Code. The Corporate Insolvency Resolution Process (CIRP) was initiated against Sarbat Cotfab Private Limited following the admission of CP (IB) No. 123/Chd/CHD/2017 filed by Phoenix Arc Private Limited on 15.02.2018. The first respondent was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The second respondent submitted a resolution plan with two other persons,
…Phoenix Arc Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Sarbat Cotfab Private Limited by filing CP (IB) No. 123/Chd/CHD/2017, which was admitted on 15.02.2018. A shareholder of Sarbat Cotfab Private Limited filed CA No. 492/2019 objecting to the resolution plan submitted by Tejinder Singh Kocher (second respondent), arguing ineligibility under Section 29A of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that Tejinder Singh Kocher is a business partner of Bhupinder Singh Mann (third respondent), a Suspended Director of Sarbat Cotfab Private Limited. The applicant submitted newspaper clippings and photographs as evidence. The first respondent was appointed as the Interim Resolution Professional (IRP) and later as the
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CP (IB) No. 123/Chd/CHD/…
CP (IB) No. 123/Chd/CHD/…
This case involves an application filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, by a shareholder of Sarbat Cotfab Private Limited (Corporate Debtor). The applicant objects to the resolution plan submitted by the second respondent, arguing that the second respondent is barred from submitting a resolution plan under Section 29A of the Code. The Corporate Insolvency Resolution Process (CIRP) was initiated against Sarbat Cotfab Private Limited following the admission of CP (IB) No. 123/Chd/CHD/2017 filed by Phoenix Arc Private Limited on 15.02.2018. The first respondent was appointed as the Interim Resolution Professional (IRP) and later as the Resolution Professional (RP). The second respondent submitted a resolution plan with two other persons,
…Phoenix Arc Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Sarbat Cotfab Private Limited by filing CP (IB) No. 123/Chd/CHD/2017, which was admitted on 15.02.2018. A shareholder of Sarbat Cotfab Private Limited filed CA No. 492/2019 objecting to the resolution plan submitted by Tejinder Singh Kocher (second respondent), arguing ineligibility under Section 29A of the Insolvency and Bankruptcy Code, 2016. The applicant claimed that Tejinder Singh Kocher is a business partner of Bhupinder Singh Mann (third respondent), a Suspended Director of Sarbat Cotfab Private Limited. The applicant submitted newspaper clippings and photographs as evidence. The first respondent was appointed as the Interim Resolution Professional (IRP) and later as the
…CP (IB) No. 123/Chd/CHD/…
CP (IB) No. 123/Chd/CHD/…