Subham Capital Private Limited and Shyam Sel & Power Limited, as applicants, filed Interlocutory Applications IA 206/2021 and IA 259/2021 respectively, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, r/w 11 of National Company Law Tribunal Rules, 2016, seeking condonation of delay in submitting their claim forms against the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of Videocon Industries Limited. The applicants, based in Kolkata, claimed they were unaware of the CIRP until November 2020 and submitted their claims shortly after discovering the notification issued by the RP. The RP opposed the applications, stating that the claims were filed after the commencement of voting by the Committee of Creditors (CoC)
…Subham Capital Private Limited and Shyam Sel & Power Limited filed applications IA 206/2021 and IA 259/2021, respectively, seeking condonation of delay in submitting claim forms. Subham Capital Private Limited had an outstanding amount of Rs. 3,00,00,000/- (Rupees Three Crores Only) with interest, advanced as an Inter Corporate Deposit to Videocon Industries Limited on 28.07.2016. Shyam Sel & Power Limited had an outstanding amount of Rs. 2,00,00,000/- (Rupees Two Crores Only) with interest, advanced as an Inter Corporate Deposit to Videocon Industries Limited on 08.02.2016. The Corporate Debtor issued receipts and demand promissory notes for both deposits. Cheques issued by the Corporate Debtor for repayment were dishonored. The applicants claimed they were
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Shyam Sel & Power…
Subham Capital Private…
Subham Capital Private Limited and Shyam Sel & Power Limited, as applicants, filed Interlocutory Applications IA 206/2021 and IA 259/2021 respectively, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, r/w 11 of National Company Law Tribunal Rules, 2016, seeking condonation of delay in submitting their claim forms against the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of Videocon Industries Limited. The applicants, based in Kolkata, claimed they were unaware of the CIRP until November 2020 and submitted their claims shortly after discovering the notification issued by the RP. The RP opposed the applications, stating that the claims were filed after the commencement of voting by the Committee of Creditors (CoC)
…Subham Capital Private Limited and Shyam Sel & Power Limited filed applications IA 206/2021 and IA 259/2021, respectively, seeking condonation of delay in submitting claim forms. Subham Capital Private Limited had an outstanding amount of Rs. 3,00,00,000/- (Rupees Three Crores Only) with interest, advanced as an Inter Corporate Deposit to Videocon Industries Limited on 28.07.2016. Shyam Sel & Power Limited had an outstanding amount of Rs. 2,00,00,000/- (Rupees Two Crores Only) with interest, advanced as an Inter Corporate Deposit to Videocon Industries Limited on 08.02.2016. The Corporate Debtor issued receipts and demand promissory notes for both deposits. Cheques issued by the Corporate Debtor for repayment were dishonored. The applicants claimed they were
…Shyam Sel & Power…
Subham Capital Private…