The document contains orders from the National Company Law Tribunal (NCLT), Mumbai Bench, regarding applications related to the Corporate Insolvency Resolution Process (CIRP) of Tulsi Extrusions Ltd. MA-3635/2019 concerns the payment of CIRP expenses to the Resolution Professional (RP) by Allahabad Bank, a financial creditor. MA-3576/2019 is an application by the RP for the liquidation of Tulsi Extrusions Ltd due to the failure of the CIRP. MA-2549/2019 involves Darshan Constructions seeking condonation of delay in filing its claim with the RP.
Tulsi Extrusions Ltd. underwent CIRP initiated by Punjab National Bank under Section 7 of the IBC. The RP sought payment of CIRP expenses from Allahabad Bank, a member of the CoC, but faced delays. The RP filed MA-3635/2019 to compel payment. The CIRP failed to produce a resolution plan, leading the RP to file MA-3576/2019 for liquidation. The CoC voted in favor of liquidation. Darshan Constructions filed MA-2549/2019 seeking condonation of delay in filing its claim. Allahabad Bank paid the principal amount of Rs.5,24,166/- after TDS deduction, but delayed the payment of interest. The CIRP period was extended but ultimately failed. The corporate debtor was placed under CIRP vide order dated 20.12.2018.
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The document contains orders from the National Company Law Tribunal (NCLT), Mumbai Bench, regarding applications related to the Corporate Insolvency Resolution Process (CIRP) of Tulsi Extrusions Ltd. MA-3635/2019 concerns the payment of CIRP expenses to the Resolution Professional (RP) by Allahabad Bank, a financial creditor. MA-3576/2019 is an application by the RP for the liquidation of Tulsi Extrusions Ltd due to the failure of the CIRP. MA-2549/2019 involves Darshan Constructions seeking condonation of delay in filing its claim with the RP.
Tulsi Extrusions Ltd. underwent CIRP initiated by Punjab National Bank under Section 7 of the IBC. The RP sought payment of CIRP expenses from Allahabad Bank, a member of the CoC, but faced delays. The RP filed MA-3635/2019 to compel payment. The CIRP failed to produce a resolution plan, leading the RP to file MA-3576/2019 for liquidation. The CoC voted in favor of liquidation. Darshan Constructions filed MA-2549/2019 seeking condonation of delay in filing its claim. Allahabad Bank paid the principal amount of Rs.5,24,166/- after TDS deduction, but delayed the payment of interest. The CIRP period was extended but ultimately failed. The corporate debtor was placed under CIRP vide order dated 20.12.2018.
Corporate Deb…
IRP was ap…
Sign in to view related legal provisions.