This case involves an application (IA No. 3481/PB/2021) filed by Suraksha Realty Limited and Lakshdeep Investments and Finance Private Limited, the Successful Resolution Applicants (SRA), seeking intervention in IA-2593 of 2021, which concerns the reconciliation process related to the distribution of Rs. 750 Crore deposited in the Registry of NCLT, Allahabad Bench. This reconciliation process is taking place between Jaypee Infratech Limited (JIL/Corporate Debtor) and Jaiprakash Associates Limited (JAL) as per the directions of the Supreme Court in the Jaypee Kensington Case. The SRA's resolution plan has been approved by the Committee of Creditors (CoC), but is pending adjudication before the Adjudicating Authority.
1. Suraksha Realty Limited and Lakshdeep Investments and Finance Private Limited are the Successful Resolution Applicants (SRAs) for Jaypee Infratech Limited (JIL).
2. The SRAs filed an application (IA No. 3481/PB/2021) seeking intervention in IA-2593 of 2021, which concerns the reconciliation process related to the distribution of Rs. 750 Crore.
3. The reconciliation process is taking place between JIL and Jaiprakash Associates Limited (JAL) as per the directions of the Supreme Court in the Jaypee Kensington Case.
4. The SRAs' resolution plan has been approved by the Committee of Creditors (CoC) with a 98.66% voting share, but is pending adjudication before the Adjudicating Authority.
5. The SRAs argue that they are necessary parties to the reconciliation process because
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IA-2593 of 2021 is filed, concerning the…
The resolution plan submitted by Suraksha…
This case involves an application (IA No. 3481/PB/2021) filed by Suraksha Realty Limited and Lakshdeep Investments and Finance Private Limited, the Successful Resolution Applicants (SRA), seeking intervention in IA-2593 of 2021, which concerns the reconciliation process related to the distribution of Rs. 750 Crore deposited in the Registry of NCLT, Allahabad Bench. This reconciliation process is taking place between Jaypee Infratech Limited (JIL/Corporate Debtor) and Jaiprakash Associates Limited (JAL) as per the directions of the Supreme Court in the Jaypee Kensington Case. The SRA's resolution plan has been approved by the Committee of Creditors (CoC), but is pending adjudication before the Adjudicating Authority.
1. Suraksha Realty Limited and Lakshdeep Investments and Finance Private Limited are the Successful Resolution Applicants (SRAs) for Jaypee Infratech Limited (JIL).
2. The SRAs filed an application (IA No. 3481/PB/2021) seeking intervention in IA-2593 of 2021, which concerns the reconciliation process related to the distribution of Rs. 750 Crore.
3. The reconciliation process is taking place between JIL and Jaiprakash Associates Limited (JAL) as per the directions of the Supreme Court in the Jaypee Kensington Case.
4. The SRAs' resolution plan has been approved by the Committee of Creditors (CoC) with a 98.66% voting share, but is pending adjudication before the Adjudicating Authority.
5. The SRAs argue that they are necessary parties to the reconciliation process because
IA-2593 of 2021 is filed, concerning the…
The resolution plan submitted by Suraksha…