The document contains orders regarding three applications (MA-3635/2019, MA-3576/2019, and MA-2549/2019) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Tulsi Extrusions Ltd. MA-3635/2019 concerns the payment of CIRP expenses by Allahabad Bank, a financial creditor. MA-3576/2019 is an application by the Resolution Professional for the liquidation of Tulsi Extrusions Ltd. MA-2549/2019 involves a request for condonation of delay in filing a claim.
Tulsi Extrusions Ltd. underwent CIRP initiated by Punjab National Bank under Section 7 of the IBC. The Resolution Professional (RP) filed MA-3635/2019 seeking payment of CIRP expenses from Allahabad Bank, a financial creditor and member of the Committee of Creditors (CoC). Allahabad Bank delayed payment for over nine months. The RP also filed MA-3576/2019 for liquidation as no resolution plan was received despite multiple invitations for Expression of Interest. The CIRP period ended on 24.09.2019 without a resolution plan. The CoC voted for liquidation with 99.98% majority on 17.09.2019. Darshan Constructions filed MA-2549/2019 seeking condonation of a two-day delay in filing its claim. The Corporate Debtor was placed under CIRP vide order dated 20.12.2018.
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Corporate Debto…
IRP appoi…
The document contains orders regarding three applications (MA-3635/2019, MA-3576/2019, and MA-2549/2019) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Tulsi Extrusions Ltd. MA-3635/2019 concerns the payment of CIRP expenses by Allahabad Bank, a financial creditor. MA-3576/2019 is an application by the Resolution Professional for the liquidation of Tulsi Extrusions Ltd. MA-2549/2019 involves a request for condonation of delay in filing a claim.
Tulsi Extrusions Ltd. underwent CIRP initiated by Punjab National Bank under Section 7 of the IBC. The Resolution Professional (RP) filed MA-3635/2019 seeking payment of CIRP expenses from Allahabad Bank, a financial creditor and member of the Committee of Creditors (CoC). Allahabad Bank delayed payment for over nine months. The RP also filed MA-3576/2019 for liquidation as no resolution plan was received despite multiple invitations for Expression of Interest. The CIRP period ended on 24.09.2019 without a resolution plan. The CoC voted for liquidation with 99.98% majority on 17.09.2019. Darshan Constructions filed MA-2549/2019 seeking condonation of a two-day delay in filing its claim. The Corporate Debtor was placed under CIRP vide order dated 20.12.2018.
Corporate Debto…
IRP appoi…