The case involves an application filed by the Resolution Professional (RP) of Kerala Chamber of Commerce and Industries (Corporate Debtor) under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 (IBC) and Rule 11 of NCLT Rules, 2016. The RP sought reclassification of claims, specifically those pertaining to arbitration awards and operational creditors, from 'other creditors' to 'Financial Creditors' and 'operational creditors' respectively. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by Phoenix ARC Private Limited under Section 7 of the IBC. The CIRP was admitted on 21.02.2022. The initial Resolution Professional was replaced by Mr. Jossy Steephen Kattur.
Phoenix ARC Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Kerala Chamber of Commerce and Industries (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC). The CIRP was admitted on 21.02.2022. Mr. K. Parameswaram Nair was initially appointed as the Interim Resolution Professional, later replaced by Mr. Jossy Steephen Kattur. The Resolution Professional filed an application seeking reclassification of claims. The application sought to reclassify claims pertaining to arbitration awards from 'other creditors' to 'Financial Creditors' and claims pertaining to operational creditors from 'other creditors' to 'operational creditors'. Concerns were raised during the 14th CoC meeting regarding the classification of
…Sign in to view the parties.
Underlying CP(IB) filed…
Tribunal admitted the…
The case involves an application filed by the Resolution Professional (RP) of Kerala Chamber of Commerce and Industries (Corporate Debtor) under Section 60(5)(c) of the Insolvency and Bankruptcy Code, 2016 (IBC) and Rule 11 of NCLT Rules, 2016. The RP sought reclassification of claims, specifically those pertaining to arbitration awards and operational creditors, from 'other creditors' to 'Financial Creditors' and 'operational creditors' respectively. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by Phoenix ARC Private Limited under Section 7 of the IBC. The CIRP was admitted on 21.02.2022. The initial Resolution Professional was replaced by Mr. Jossy Steephen Kattur.
Phoenix ARC Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Kerala Chamber of Commerce and Industries (Corporate Debtor) under Section 7 of the Insolvency and Bankruptcy Code (IBC). The CIRP was admitted on 21.02.2022. Mr. K. Parameswaram Nair was initially appointed as the Interim Resolution Professional, later replaced by Mr. Jossy Steephen Kattur. The Resolution Professional filed an application seeking reclassification of claims. The application sought to reclassify claims pertaining to arbitration awards from 'other creditors' to 'Financial Creditors' and claims pertaining to operational creditors from 'other creditors' to 'operational creditors'. Concerns were raised during the 14th CoC meeting regarding the classification of
…Underlying CP(IB) filed…
Tribunal admitted the…