The case involves an application (IA No. 1607 of 2023) filed by a consortium of PFC Projects Limited (PPL), REC Limited (REC), and NTPC Limited (NTPC) challenging the decision of the Committee of Creditors (CoC) and the Resolution Professional (RP) of KSK Water Infrastructure Private Limited to disqualify them from being included in the final list of eligible prospective resolution applicants (PRA) in the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor, KSK Water Infrastructure Private Limited, was admitted into CIRP on 23.08.2021. The RP had invited Expressions of Interest (EOI) from PRAs with a cut-off date of 07.09.2021. Nine EOIs were received. The disqualification was based on the fact that PFC and REC, as members of the Committee of Creditors
…KSK Water Infrastructures Private Limited (Corporate Debtor) was admitted into CIRP on 23.08.2021. The Resolution Professional (RP) invited Expressions of Interest (EOI) from Prospective Resolution Applicants (PRAs). A consortium of PFC Projects Limited (PPL), REC Limited (REC), and NTPC Limited (NTPC) (Applicants) submitted an EOI. The Respondents (CoC/RP) disqualified the Applicants from the final list of eligible PRAs. The disqualification was based on the fact that PFC and REC, as members of the Committee of Creditors (CoC) of KSK Mahanadi Power Company Limited (KMPCL), were engaged in legal proceedings with the Corporate Debtor. The RP had obtained an extension to invite the applicants. The EOI was submitted by the applicant on 21.07.2023. The RP conveyed through
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KSK Water Infrastructure…
Cut-off date for submitting Expressions of…
The case involves an application (IA No. 1607 of 2023) filed by a consortium of PFC Projects Limited (PPL), REC Limited (REC), and NTPC Limited (NTPC) challenging the decision of the Committee of Creditors (CoC) and the Resolution Professional (RP) of KSK Water Infrastructure Private Limited to disqualify them from being included in the final list of eligible prospective resolution applicants (PRA) in the Corporate Insolvency Resolution Process (CIRP). The Corporate Debtor, KSK Water Infrastructure Private Limited, was admitted into CIRP on 23.08.2021. The RP had invited Expressions of Interest (EOI) from PRAs with a cut-off date of 07.09.2021. Nine EOIs were received. The disqualification was based on the fact that PFC and REC, as members of the Committee of Creditors
…KSK Water Infrastructures Private Limited (Corporate Debtor) was admitted into CIRP on 23.08.2021. The Resolution Professional (RP) invited Expressions of Interest (EOI) from Prospective Resolution Applicants (PRAs). A consortium of PFC Projects Limited (PPL), REC Limited (REC), and NTPC Limited (NTPC) (Applicants) submitted an EOI. The Respondents (CoC/RP) disqualified the Applicants from the final list of eligible PRAs. The disqualification was based on the fact that PFC and REC, as members of the Committee of Creditors (CoC) of KSK Mahanadi Power Company Limited (KMPCL), were engaged in legal proceedings with the Corporate Debtor. The RP had obtained an extension to invite the applicants. The EOI was submitted by the applicant on 21.07.2023. The RP conveyed through
…KSK Water Infrastructure…
Cut-off date for submitting Expressions of…