The Interlocutory Application (IBC)No. 636/KB/ 2022 was moved by Rashtrawadi Shramshakti Mahasagh, a registered Trade Union, seeking a stay on the operation of an order pronounced on April 29, 2022, which directed Uranus Softech Park Private Limited, the Successful Resolution Applicant, not to take any steps or make any investments pursuant to the order. The Union argued that the CoC approved the Resolution Plan without due consideration, and the realizable value of the Pune Plant of the Corporate Debtor would fetch much more than the amount offered by the Resolution Applicant. The workers and employees of the Corporate Debtor have been waiting for their claims to be released for the last 22 years, and the resolution plan would only pay them 4-5% of their total
…Rashtrawadi Shramshakti Mahasagh, a registered Trade Union, filed an Interlocutory Application (IBC) No. 636/KB/2022 seeking a stay on the operation of an order pronounced on April 29, 2022, in IA No. 678/2021 arising out of CP No. 1400/KB/2018. The order directed Uranus Softech Park Private Limited, the Successful Resolution Applicant, not to take any steps or make any investments pursuant to the order. The Union argued that the CoC approved the Resolution Plan without due consideration, and the realizable value of the Pune Plant of the Corporate Debtor would fetch much more than the amount offered by the Resolution Applicant. The workers and employees of the Corporate Debtor have been waiting for their claims to be released for the last 22 years, and the resolution
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Rajiv Kumar Aga…
Order pronounced on April 29, 2022, in IA…
The Interlocutory Application (IBC)No. 636/KB/ 2022 was moved by Rashtrawadi Shramshakti Mahasagh, a registered Trade Union, seeking a stay on the operation of an order pronounced on April 29, 2022, which directed Uranus Softech Park Private Limited, the Successful Resolution Applicant, not to take any steps or make any investments pursuant to the order. The Union argued that the CoC approved the Resolution Plan without due consideration, and the realizable value of the Pune Plant of the Corporate Debtor would fetch much more than the amount offered by the Resolution Applicant. The workers and employees of the Corporate Debtor have been waiting for their claims to be released for the last 22 years, and the resolution plan would only pay them 4-5% of their total
…Rashtrawadi Shramshakti Mahasagh, a registered Trade Union, filed an Interlocutory Application (IBC) No. 636/KB/2022 seeking a stay on the operation of an order pronounced on April 29, 2022, in IA No. 678/2021 arising out of CP No. 1400/KB/2018. The order directed Uranus Softech Park Private Limited, the Successful Resolution Applicant, not to take any steps or make any investments pursuant to the order. The Union argued that the CoC approved the Resolution Plan without due consideration, and the realizable value of the Pune Plant of the Corporate Debtor would fetch much more than the amount offered by the Resolution Applicant. The workers and employees of the Corporate Debtor have been waiting for their claims to be released for the last 22 years, and the resolution
…Rajiv Kumar Aga…
Order pronounced on April 29, 2022, in IA…