The applicants, who are the successful resolution applicants, filed an application seeking directions for a structural audit of the corporate debtor's project, approvals from Greater Noida Industrial Development Authority, and permission to seek approval for remedial costs, citing structural damage due to sewage leakage and the need to preserve the project's viability and the approved Resolution Plan.
The applicants are the Successful Resolution Applicants in the Corporate Insolvency Resolution Process (CIRP) of Shubhkamna Buildtech Pvt. Ltd. Their Resolution Plan was approved by the Committee of Creditors with an 85.57% voting share. Subsequently, the Resolution Plan was approved by the NCLT via an order dated September 12, 2022. The Greater Noida Industrial Development Authority (GNIDA) had objected to the Resolution Plan, claiming to be a secured creditor, and has since appealed the NCLT's approval order to the NCLAT.
…The Resolution Plan…
The Adjudicating Authority directed the…
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The applicants, who are the successful resolution applicants, filed an application seeking directions for a structural audit of the corporate debtor's project, approvals from Greater Noida Industrial Development Authority, and permission to seek approval for remedial costs, citing structural damage due to sewage leakage and the need to preserve the project's viability and the approved Resolution Plan.
The applicants are the Successful Resolution Applicants in the Corporate Insolvency Resolution Process (CIRP) of Shubhkamna Buildtech Pvt. Ltd. Their Resolution Plan was approved by the Committee of Creditors with an 85.57% voting share. Subsequently, the Resolution Plan was approved by the NCLT via an order dated September 12, 2022. The Greater Noida Industrial Development Authority (GNIDA) had objected to the Resolution Plan, claiming to be a secured creditor, and has since appealed the NCLT's approval order to the NCLAT.
…The Resolution Plan…
The Adjudicating Authority directed the…
Sign in to view related legal provisions.