The case involves three Interlocutory Applications (IAs) – I.A. (I.B.C) No.797 /KB/2022, I.A. (I.B.C) No.1140 /KB/2022, and I.A. (I.B.C) No.1150 /KB/2022 – filed in connection with CP (IB) No. 1380/KB/2020. These IAs seek condonation of delay in filing claims before the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of Bhumya Tea Company Private Limited. UCO Bank is the Financial Creditor. The applications were filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Regulation 12(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
UCO Bank initiated CIRP against Bhumya Tea Company Private Limited under CP (IB) No. 1380/KB/2020. Three IAs (797/KB/2022, 1140/KB/2022, and 1150/KB/2022) were filed seeking condonation of delay in submitting claims to the Resolution Professional (RP). Union Bank of India, as a Financial Creditor of Amboota Tea Exports Private Limited (where Bhumya Tea Company was the Corporate Guarantor), filed IA 797/KB/2022 with a 100-day delay. Pratap Mukherjee, the RP of Limtex (India) Ltd, filed IA 1140/KB/2022 with a 133-day delay. Pankaj Coal Enterprises filed IA 1150/KB/2022 with a 108-day delay. The RP rejected the claims due to delays beyond the public notice deadline of April 18, 2022. The RP argued that accepting late claims would disrupt the advanced CIRP stage, where
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The case involves three Interlocutory Applications (IAs) – I.A. (I.B.C) No.797 /KB/2022, I.A. (I.B.C) No.1140 /KB/2022, and I.A. (I.B.C) No.1150 /KB/2022 – filed in connection with CP (IB) No. 1380/KB/2020. These IAs seek condonation of delay in filing claims before the Resolution Professional (RP) in the Corporate Insolvency Resolution Process (CIRP) of Bhumya Tea Company Private Limited. UCO Bank is the Financial Creditor. The applications were filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, and Regulation 12(2) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016.
UCO Bank initiated CIRP against Bhumya Tea Company Private Limited under CP (IB) No. 1380/KB/2020. Three IAs (797/KB/2022, 1140/KB/2022, and 1150/KB/2022) were filed seeking condonation of delay in submitting claims to the Resolution Professional (RP). Union Bank of India, as a Financial Creditor of Amboota Tea Exports Private Limited (where Bhumya Tea Company was the Corporate Guarantor), filed IA 797/KB/2022 with a 100-day delay. Pratap Mukherjee, the RP of Limtex (India) Ltd, filed IA 1140/KB/2022 with a 133-day delay. Pankaj Coal Enterprises filed IA 1150/KB/2022 with a 108-day delay. The RP rejected the claims due to delays beyond the public notice deadline of April 18, 2022. The RP argued that accepting late claims would disrupt the advanced CIRP stage, where
…Filing of CP (…
Prescribed date in the…