This is an application submitted by the Successful Resolution Applicant (SRA) requesting that certain expenses be borne by the Corporate Debtor (CD) until the 'Effective Date' of implementing the Resolution Plan. The Resolution Plan was approved on 2021-06-22, stipulating that the 'Effective Date' would be within 90 days (or a maximum of 270 days) from the plan's approval.
The Successful Resolution Applicant (SRA) filed an application seeking directions that certain expenses need to be borne by the Corporate Debtor (CD) until the 'Effective Date' of implementing the Resolution Plan. The Resolution Plan was approved on 2021-06-22, with the 'Effective Date' to be within 90 to 270 days from approval. The SRA requested the Respondents to pay all expenses relating to the CD until the Effective Date, including expenses for Conditions Precedent fulfillment, hiring employees, IT contracts, training, ground handling, engineering, MRO contracts, and operational expenses, using the CD's positive cash balance. The SRA submitted that Clause 6.4.1 (h) of the Resolution Plan states that expenses incurred by the CD from the Approval Date until the
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The Resolution Plan was approved…
SRA brought 50 Crores and agreed that this…
This is an application submitted by the Successful Resolution Applicant (SRA) requesting that certain expenses be borne by the Corporate Debtor (CD) until the 'Effective Date' of implementing the Resolution Plan. The Resolution Plan was approved on 2021-06-22, stipulating that the 'Effective Date' would be within 90 days (or a maximum of 270 days) from the plan's approval.
The Successful Resolution Applicant (SRA) filed an application seeking directions that certain expenses need to be borne by the Corporate Debtor (CD) until the 'Effective Date' of implementing the Resolution Plan. The Resolution Plan was approved on 2021-06-22, with the 'Effective Date' to be within 90 to 270 days from approval. The SRA requested the Respondents to pay all expenses relating to the CD until the Effective Date, including expenses for Conditions Precedent fulfillment, hiring employees, IT contracts, training, ground handling, engineering, MRO contracts, and operational expenses, using the CD's positive cash balance. The SRA submitted that Clause 6.4.1 (h) of the Resolution Plan states that expenses incurred by the CD from the Approval Date until the
…The Resolution Plan was approved…
SRA brought 50 Crores and agreed that this…