The case involves multiple IAs (Interlocutory Applications) filed in relation to the CIRP (Corporate Insolvency Resolution Process) of Alpine Realtech Pvt. Ltd. under Section 7 of the IBC (Insolvency and Bankruptcy Code), 2016. The IAs pertain to issues such as non-payment of CIRP costs, reconsideration of resolution plans, and directing the IRP (Insolvency Resolution Professional) to put a resolution plan for consideration before the CoC (Committee of Creditors). The CIRP commenced on 12.03.2019.
The CIRP of Alpine Realtech Pvt. Ltd. commenced on 12.03.2019 under Section 7 of the IBC, 2016. Punjab & Sind Bank is the applicant/petitioner. Several IAs were filed, including IA-4932/2020 concerning non-payment of CIRP costs and RP fees, where Punjab & Sind Bank stated they paid their contribution of Rs. 13,89,468/- till December 2019. IA-4360/2022 sought reconsideration of four resolution plans considered between 01.08.2022 and 09.08.2022 but not approved by the CoC. IA-5483/2022 requested directing the IRP to present the applicant's resolution plan to the CoC, opposed by both the IRP and Punjab & Sind Bank, citing that the bank's debt exceeded Rs. 100 crores and the plan proposed only Rs. 12 crores. A liquidation application (IA-4142/2022) has already
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Corporate Insolvency…
Punjab & Sind Bank stated they paid their CIRP…
The case involves multiple IAs (Interlocutory Applications) filed in relation to the CIRP (Corporate Insolvency Resolution Process) of Alpine Realtech Pvt. Ltd. under Section 7 of the IBC (Insolvency and Bankruptcy Code), 2016. The IAs pertain to issues such as non-payment of CIRP costs, reconsideration of resolution plans, and directing the IRP (Insolvency Resolution Professional) to put a resolution plan for consideration before the CoC (Committee of Creditors). The CIRP commenced on 12.03.2019.
The CIRP of Alpine Realtech Pvt. Ltd. commenced on 12.03.2019 under Section 7 of the IBC, 2016. Punjab & Sind Bank is the applicant/petitioner. Several IAs were filed, including IA-4932/2020 concerning non-payment of CIRP costs and RP fees, where Punjab & Sind Bank stated they paid their contribution of Rs. 13,89,468/- till December 2019. IA-4360/2022 sought reconsideration of four resolution plans considered between 01.08.2022 and 09.08.2022 but not approved by the CoC. IA-5483/2022 requested directing the IRP to present the applicant's resolution plan to the CoC, opposed by both the IRP and Punjab & Sind Bank, citing that the bank's debt exceeded Rs. 100 crores and the plan proposed only Rs. 12 crores. A liquidation application (IA-4142/2022) has already
…Corporate Insolvency…
Punjab & Sind Bank stated they paid their CIRP…