M/s Concept Infracon Pvt. Ltd., an operational creditor, filed an application (IA No.17/2021) in an ongoing Corporate Insolvency Resolution Process (CIRP) against Luni Power Company Pvt. Ltd., the corporate debtor. The CIRP was initiated by Central Bank of India under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Concept Infracon sought directions from the NCLT to the Resolution Professional (RP) to provide a copy of the resolution plan and admit their entire claim of Rs. 1,19,33,688. They also sought rejection of the resolution plan pending before the tribunal and a direction to the RP to revise the plan after incorporating their claim. The applicant contended that there was a contract between them and the corporate debtor, with work orders placed and
…Central Bank of India initiated CIRP against Luni Power Company Pvt. Ltd. under Section 7 of IBC. M/s Concept Infracon Pvt. Ltd., an operational creditor, filed IA No.17/2021 seeking inclusion of their claim of Rs. 1,19,33,688. Concept Infracon claimed a contract with Luni Power Company and outstanding work orders. They submitted their claim on March 20, 2020, after the public announcement deadline of January 5, 2020, and sent reminders. The Resolution Professional (RP) requested documents on November 13, 2020, and Concept Infracon complied on November 16, 2020. The RP had already issued the Information Memorandum (IM) to resolution applicants by October 17, 2020, and the resolution plan was submitted by November 17, 2020. The RP argued that the claim was delayed and
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M/s Concept Infracon Pvt. Ltd., an operational creditor, filed an application (IA No.17/2021) in an ongoing Corporate Insolvency Resolution Process (CIRP) against Luni Power Company Pvt. Ltd., the corporate debtor. The CIRP was initiated by Central Bank of India under Section 7 of the Insolvency and Bankruptcy Code (IBC), 2016. Concept Infracon sought directions from the NCLT to the Resolution Professional (RP) to provide a copy of the resolution plan and admit their entire claim of Rs. 1,19,33,688. They also sought rejection of the resolution plan pending before the tribunal and a direction to the RP to revise the plan after incorporating their claim. The applicant contended that there was a contract between them and the corporate debtor, with work orders placed and
…Central Bank of India initiated CIRP against Luni Power Company Pvt. Ltd. under Section 7 of IBC. M/s Concept Infracon Pvt. Ltd., an operational creditor, filed IA No.17/2021 seeking inclusion of their claim of Rs. 1,19,33,688. Concept Infracon claimed a contract with Luni Power Company and outstanding work orders. They submitted their claim on March 20, 2020, after the public announcement deadline of January 5, 2020, and sent reminders. The Resolution Professional (RP) requested documents on November 13, 2020, and Concept Infracon complied on November 16, 2020. The RP had already issued the Information Memorandum (IM) to resolution applicants by October 17, 2020, and the resolution plan was submitted by November 17, 2020. The RP argued that the claim was delayed and
…CIRP initiated against…
Public announcement in…