The case involves two applications, MA 1038/2019 filed by Fullerton India Credit Co Ltd and MA 1217/2019 filed by Entire Infratech Pvt Ltd, both related to a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. MA 1038/2019 concerns the rejection of Fullerton India's claim by the Resolution Professional (RP), while MA 1217/2019 seeks condonation of delay in filing claims by Entire Infratech before the RP. The corporate debtor is Sunil Hitech Engineers Ltd.
Fullerton India Credit Co Ltd (Fullerton) filed MA 1038/2019 seeking direction to the Respondent to allow applicant's claim dated 14.1.2019 made in FORM 'C' before the Respondent. Fullerton, a non-banking financial company, claimed to be a Financial Creditor of Sunil Hitech Engineers Limited (Corporate Debtor), with an outstanding debt of Rs.10,01,20,996 as of 10.9.2018, the Insolvency Commencement date. The Tribunal had admitted a petition under Section 7 of IBC on 10.9.2018, and an RP was appointed on 27.11.2018. Fullerton's claim was rejected via email on 31.1.2019, leading to the application. A Secured Term Loan of Rs.9,25,00,000 and a Business Instalment Loan of Rs.1,10,00,000 were disbursed to the Corporate Debtor under a Facility Agreement dated 30.11.2015. The
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The case involves two applications, MA 1038/2019 filed by Fullerton India Credit Co Ltd and MA 1217/2019 filed by Entire Infratech Pvt Ltd, both related to a Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC), 2016. MA 1038/2019 concerns the rejection of Fullerton India's claim by the Resolution Professional (RP), while MA 1217/2019 seeks condonation of delay in filing claims by Entire Infratech before the RP. The corporate debtor is Sunil Hitech Engineers Ltd.
Fullerton India Credit Co Ltd (Fullerton) filed MA 1038/2019 seeking direction to the Respondent to allow applicant's claim dated 14.1.2019 made in FORM 'C' before the Respondent. Fullerton, a non-banking financial company, claimed to be a Financial Creditor of Sunil Hitech Engineers Limited (Corporate Debtor), with an outstanding debt of Rs.10,01,20,996 as of 10.9.2018, the Insolvency Commencement date. The Tribunal had admitted a petition under Section 7 of IBC on 10.9.2018, and an RP was appointed on 27.11.2018. Fullerton's claim was rejected via email on 31.1.2019, leading to the application. A Secured Term Loan of Rs.9,25,00,000 and a Business Instalment Loan of Rs.1,10,00,000 were disbursed to the Corporate Debtor under a Facility Agreement dated 30.11.2015. The
…Tribunal admitted the…
RP was appoin…