The case pertains to I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 in C.P.(IB)No.214/BB/2019 filed under Section 60(5)(c) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016. These applications seek to condone a delay of 69 days in filing the Proof of Claim by the Applicant/Financial Creditor with the Respondent/Resolution Professional and to direct the Resolution Professional to accept and consider the claim. The main Company Petition was filed by M/s. Madura Coats Private Limited under Section 9 of the IBC, 2016, and was admitted on 2019-10-29, initiating CIRP and appointing Mr. Ratnakar Shetty as IRP. A public announcement was made on 2019-11-07, with a deadline of 2019-11-21 for creditors to file their claims.
M/s. Madura Coats Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the petition on 2019-10-29 and appointed Mr. Ratnakar Shetty as the Interim Resolution Professional (IRP). The IRP made a public announcement on 2019-11-07, setting 2019-11-21 as the last date for submission of claims. Several financial creditors, including M/s. Triburg Sportswear, Mrs. Anuradha Bakshi and M/s. Triburg Consultants Private Limited, filed applications (I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 respectively) seeking condonation of a 69-day delay in filing their claims. The applicants claimed they were unaware of the public
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The Adjudicating Authority admitted the main…
Mr. Ratnakar Shetty was…
The case pertains to I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 in C.P.(IB)No.214/BB/2019 filed under Section 60(5)(c) of the IBC, 2016, read with Rule 11 of the NCLT Rules, 2016. These applications seek to condone a delay of 69 days in filing the Proof of Claim by the Applicant/Financial Creditor with the Respondent/Resolution Professional and to direct the Resolution Professional to accept and consider the claim. The main Company Petition was filed by M/s. Madura Coats Private Limited under Section 9 of the IBC, 2016, and was admitted on 2019-10-29, initiating CIRP and appointing Mr. Ratnakar Shetty as IRP. A public announcement was made on 2019-11-07, with a deadline of 2019-11-21 for creditors to file their claims.
M/s. Madura Coats Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against a Corporate Debtor under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016. The Adjudicating Authority admitted the petition on 2019-10-29 and appointed Mr. Ratnakar Shetty as the Interim Resolution Professional (IRP). The IRP made a public announcement on 2019-11-07, setting 2019-11-21 as the last date for submission of claims. Several financial creditors, including M/s. Triburg Sportswear, Mrs. Anuradha Bakshi and M/s. Triburg Consultants Private Limited, filed applications (I.A.No.76/2020, I.A.No.74/2020 and I.A.No.75/2020 respectively) seeking condonation of a 69-day delay in filing their claims. The applicants claimed they were unaware of the public
…The Adjudicating Authority admitted the main…
Mr. Ratnakar Shetty was…