The case involves an application (IA (IB) No. 267/ (KB)/2024) in CP No. 1536/(KB)/2019 filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The applicant, Abinandan Holdings Private Limited, sought certain reliefs related to the Corporate Debtor, Arambagh Hatcheries Limited, which is undergoing Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC) resisted the applicant's prayer, stating it was belated and filed beyond the statutory period under the IBC. The Resolution Professional (RP) also resisted the prayer. The applicant claimed it intended to revive the Corporate Debtor and had submitted an Expression of Interest (EOI). The CoC had already
…Phoenix ARC Private Limited is the Financial Creditor. Arambagh Hatcheries Limited is the Corporate Debtor. Abinandan Holdings Private Limited filed an application under Section 60(5) of the IBC seeking certain reliefs. The Committee of Creditors (CoC) resisted the application, arguing it was belated. The CoC, with 99.77% voting share, unanimously decided to resolve and liquidate the Corporate Debtor. The CIRP period had expired, and no compliant resolution plan was received. The RP filed an application for liquidation of the Corporate Debtor. The applicant, Abinandan Holdings Private Limited, submitted a letter seeking to submit its expression of interest for initiating CIRP of the corporate Debtor. The applicant claimed to have tendered an EMD of Rs. 15,00,000/-. The
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The application filed by the Financial Creditor…
First Form G p…
The case involves an application (IA (IB) No. 267/ (KB)/2024) in CP No. 1536/(KB)/2019 filed under Section 60(5) of the Insolvency and Bankruptcy Code (IBC), 2016, read with Rule 11 of the National Company Law Tribunal Rules, 2016. The applicant, Abinandan Holdings Private Limited, sought certain reliefs related to the Corporate Debtor, Arambagh Hatcheries Limited, which is undergoing Corporate Insolvency Resolution Process (CIRP). The Committee of Creditors (CoC) resisted the applicant's prayer, stating it was belated and filed beyond the statutory period under the IBC. The Resolution Professional (RP) also resisted the prayer. The applicant claimed it intended to revive the Corporate Debtor and had submitted an Expression of Interest (EOI). The CoC had already
…Phoenix ARC Private Limited is the Financial Creditor. Arambagh Hatcheries Limited is the Corporate Debtor. Abinandan Holdings Private Limited filed an application under Section 60(5) of the IBC seeking certain reliefs. The Committee of Creditors (CoC) resisted the application, arguing it was belated. The CoC, with 99.77% voting share, unanimously decided to resolve and liquidate the Corporate Debtor. The CIRP period had expired, and no compliant resolution plan was received. The RP filed an application for liquidation of the Corporate Debtor. The applicant, Abinandan Holdings Private Limited, submitted a letter seeking to submit its expression of interest for initiating CIRP of the corporate Debtor. The applicant claimed to have tendered an EMD of Rs. 15,00,000/-. The
…The application filed by the Financial Creditor…
First Form G p…