The case involves two interconnected applications, IA (IB) No. 716/KB/2020 and IA (IB) No. 871/KB/2020, in CP (IB) No. 846/KB/2019, before the National Company Law Tribunal (NCLT), Kolkata Bench. IA (IB) No. 716/KB/2020 was filed by the Resolution Professional (RP) of Skipper Homes Private Limited under section 30(6) of the Insolvency and Bankruptcy Code (IBC) for approval of a resolution plan. IA (IB) No. 871/KB/2020 was filed by Aditya Birla Finance Limited, a secured financial creditor, objecting to certain clauses of the resolution plan, specifically the waiver or relinquishment of debt and the liability of the guarantor. The underlying Company Petition in CP (IB) No.846/KB/2019 was filed by Orchid Barter Private Limited against the Corporate Debtor under section 7
…Orchid Barter Private Limited initiated corporate insolvency resolution process (CIRP) against Skipper Homes Private Limited by filing CP (IB) No. 846/KB/2019 under Section 7 of IBC, which was admitted on 21.10.2019. Mahesh Chand Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 23.10.2019, inviting claims from creditors. Seven CoC meetings were held. Invitations for Expressions of Interest (EoI) were issued on 04.01.2020, with a deadline of 19.01.2020. Only one resolution plan was received from Curtainman Online Private Limited. The RP moved IA (IB) No. 716/KB/2020 on 17.11.2020 for approval of the resolution plan under section 30(6) of IBC. Aditya Birla Finance
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The IRP made public announcement in The…
The case involves two interconnected applications, IA (IB) No. 716/KB/2020 and IA (IB) No. 871/KB/2020, in CP (IB) No. 846/KB/2019, before the National Company Law Tribunal (NCLT), Kolkata Bench. IA (IB) No. 716/KB/2020 was filed by the Resolution Professional (RP) of Skipper Homes Private Limited under section 30(6) of the Insolvency and Bankruptcy Code (IBC) for approval of a resolution plan. IA (IB) No. 871/KB/2020 was filed by Aditya Birla Finance Limited, a secured financial creditor, objecting to certain clauses of the resolution plan, specifically the waiver or relinquishment of debt and the liability of the guarantor. The underlying Company Petition in CP (IB) No.846/KB/2019 was filed by Orchid Barter Private Limited against the Corporate Debtor under section 7
…Orchid Barter Private Limited initiated corporate insolvency resolution process (CIRP) against Skipper Homes Private Limited by filing CP (IB) No. 846/KB/2019 under Section 7 of IBC, which was admitted on 21.10.2019. Mahesh Chand Gupta was appointed as the Interim Resolution Professional (IRP) and later confirmed as the Resolution Professional (RP). Public announcement was made on 23.10.2019, inviting claims from creditors. Seven CoC meetings were held. Invitations for Expressions of Interest (EoI) were issued on 04.01.2020, with a deadline of 19.01.2020. Only one resolution plan was received from Curtainman Online Private Limited. The RP moved IA (IB) No. 716/KB/2020 on 17.11.2020 for approval of the resolution plan under section 30(6) of IBC. Aditya Birla Finance
…The underlying Company…
The IRP made public announcement in The…