The case involves an application by Jayanta Banerjee, an operational creditor, against Incab Industries Limited, the corporate debtor, and Pankaj Kumar Tibrewal, the Resolution Professional of Incab Industries Limited. The applicant sought various reliefs, including being provided with a copy of the resolution plan, intervening in the application for approval of the resolution plan, and ensuring that the resolution plan adequately addresses the interests of operational creditors. The applicant's claim stems from unpaid dues for goods supplied to the corporate debtor in 1999. The corporate debtor was declared a 'Sick Industry' in 2000, hindering the applicant's ability to pursue claims. The applicant, not being part of the Committee of Creditors (CoC), lacked
…Jayanta Banerjee, an operational creditor, filed an application against Incab Industries Limited (corporate debtor) and its Resolution Professional, Pankaj Kumar Tibrewal. The claim arises from unpaid dues for goods supplied in 1999. The corporate debtor was declared a 'Sick Industry' in 2000. The applicant, not being a member of the Committee of Creditors (CoC), sought a copy of the resolution plan and argued that the plan should adequately address the interests of operational creditors. The applicant contended that the proposed Nil/Zero payment to operational creditors is contrary to law, specifically Section 30(2) of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional argued that the applicant is not entitled to the resolution plan due to
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The case involves an application by Jayanta Banerjee, an operational creditor, against Incab Industries Limited, the corporate debtor, and Pankaj Kumar Tibrewal, the Resolution Professional of Incab Industries Limited. The applicant sought various reliefs, including being provided with a copy of the resolution plan, intervening in the application for approval of the resolution plan, and ensuring that the resolution plan adequately addresses the interests of operational creditors. The applicant's claim stems from unpaid dues for goods supplied to the corporate debtor in 1999. The corporate debtor was declared a 'Sick Industry' in 2000, hindering the applicant's ability to pursue claims. The applicant, not being part of the Committee of Creditors (CoC), lacked
…Jayanta Banerjee, an operational creditor, filed an application against Incab Industries Limited (corporate debtor) and its Resolution Professional, Pankaj Kumar Tibrewal. The claim arises from unpaid dues for goods supplied in 1999. The corporate debtor was declared a 'Sick Industry' in 2000. The applicant, not being a member of the Committee of Creditors (CoC), sought a copy of the resolution plan and argued that the plan should adequately address the interests of operational creditors. The applicant contended that the proposed Nil/Zero payment to operational creditors is contrary to law, specifically Section 30(2) of the Insolvency and Bankruptcy Code, 2016. The Resolution Professional argued that the applicant is not entitled to the resolution plan due to
…The applicant supplied…
The applicant issued a…