The case involves an application (IA (IB) No. 1577/ (KB) /2023) in a corporate insolvency resolution process (CP No. 634/(KB) /2020) before the National Company Law Tribunal (NCLT), Kolkata. The application was 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. Pheonix ARC Private Limited, acting as Trustee of Phoenix Trust FY 22-16, is the financial creditor, and EMTA Coal Limited is the corporate debtor. The application seeks leave to advance a supplementary argument.
L&T Finance Limited is the original financial creditor. Pheonix ARC Private Limited, acting as Trustee of Phoenix Trust FY 22-16, is also a financial creditor. EMTA Coal Limited is the corporate debtor. An application, IA (IB) No. 1577/ (KB) /2023, was filed in CP No. 634/(KB) /2020 under Section 60(5) of the IBC, seeking leave to advance a supplementary argument in the ongoing insolvency proceedings. The application was filed in view of previous orders passed in IA (IB)504/KB/2022 & IA (IB)1371/KB/2023. The court heard the counsels for the parties.
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The case involves an application (IA (IB) No. 1577/ (KB) /2023) in a corporate insolvency resolution process (CP No. 634/(KB) /2020) before the National Company Law Tribunal (NCLT), Kolkata. The application was 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. Pheonix ARC Private Limited, acting as Trustee of Phoenix Trust FY 22-16, is the financial creditor, and EMTA Coal Limited is the corporate debtor. The application seeks leave to advance a supplementary argument.
L&T Finance Limited is the original financial creditor. Pheonix ARC Private Limited, acting as Trustee of Phoenix Trust FY 22-16, is also a financial creditor. EMTA Coal Limited is the corporate debtor. An application, IA (IB) No. 1577/ (KB) /2023, was filed in CP No. 634/(KB) /2020 under Section 60(5) of the IBC, seeking leave to advance a supplementary argument in the ongoing insolvency proceedings. The application was filed in view of previous orders passed in IA (IB)504/KB/2022 & IA (IB)1371/KB/2023. The court heard the counsels for the parties.
Date of previous…
Date of pronouncement…