The case involves an application filed by ODAT-GmbH against Santanu Brahma, the Interim Resolution Professional (IRP) of Darjeeling Tea Estate Limited, seeking to set aside resolutions passed by the Committee of Creditors (CoC) in its first, second, and third meetings and to direct fresh voting. ODAT-GmbH was considered a Financial Creditor but as a 'related party' by the Resolution Professional, which affected its voting powers in CoC meetings. An earlier order by the Tribunal in IA 1649/KB/2023 held that ODAT-GmbH was a 'related party' and entitled to participate in CoC meetings without voting rights. An appeal against this order in Appeal No.1683 of 2023 was filed, and the NCLAT set aside the Tribunal's order, directing the IRP to include ODAT-GmbH in the CoC and
…ODAT-GmbH filed an application seeking to set aside resolutions passed in the first three CoC meetings of Darjeeling Organic Tea Estate Private Limited, arguing that as a financial creditor, it was improperly excluded or restricted in its voting rights. Initially, the Resolution Professional considered ODAT-GmbH as a 'related party,' limiting its participation in CoC meetings. The NCLAT overturned the initial decision, directing the inclusion of ODAT-GmbH in the CoC with proportionate voting rights. The resolutions passed in the earlier CoC meetings were primarily administrative, involving the appointment of the IRP and other professionals. The respondents informed the court that they had filed an appeal against the NCLAT's order before the Supreme Court, and the
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An interim order was passed holding that any…
Hon'ble NCLAT set aside the Order passed by us…
The case involves an application filed by ODAT-GmbH against Santanu Brahma, the Interim Resolution Professional (IRP) of Darjeeling Tea Estate Limited, seeking to set aside resolutions passed by the Committee of Creditors (CoC) in its first, second, and third meetings and to direct fresh voting. ODAT-GmbH was considered a Financial Creditor but as a 'related party' by the Resolution Professional, which affected its voting powers in CoC meetings. An earlier order by the Tribunal in IA 1649/KB/2023 held that ODAT-GmbH was a 'related party' and entitled to participate in CoC meetings without voting rights. An appeal against this order in Appeal No.1683 of 2023 was filed, and the NCLAT set aside the Tribunal's order, directing the IRP to include ODAT-GmbH in the CoC and
…ODAT-GmbH filed an application seeking to set aside resolutions passed in the first three CoC meetings of Darjeeling Organic Tea Estate Private Limited, arguing that as a financial creditor, it was improperly excluded or restricted in its voting rights. Initially, the Resolution Professional considered ODAT-GmbH as a 'related party,' limiting its participation in CoC meetings. The NCLAT overturned the initial decision, directing the inclusion of ODAT-GmbH in the CoC with proportionate voting rights. The resolutions passed in the earlier CoC meetings were primarily administrative, involving the appointment of the IRP and other professionals. The respondents informed the court that they had filed an appeal against the NCLAT's order before the Supreme Court, and the
…An interim order was passed holding that any…
Hon'ble NCLAT set aside the Order passed by us…