The case involves an application (IA 2193/2022) filed under Section 60(5) r/w Rule 11 of NCLT Rules, 2016, seeking direction to the Committee of Creditors (CoC) to consider a revised resolution plan. The CoC had previously deliberated on resolution plans, including one from a consortium led by the appellant. Defects and technical difficulties were pointed out during the deliberations. The appellant submitted an affidavit clarifying their resolution plan, stating their commitment to the payment schedule and resolution of the corporate debtor.
Shyam Sel And Power Limited filed an application (IA No. 2193/2022) under Section 60(5) r/w Rule 11 of NCLT Rules, 2016, seeking a direction to the Committee of Creditors (CoC) to consider a revised resolution plan. The CoC had previously deliberated on resolution plans, including one from a consortium led by the appellant, Ajay Gupta of Prabhat Warehouse and Cold Storage Private Ltd. During the deliberations, defects and technical difficulties were pointed out. Ajay Gupta submitted an affidavit dated 17.11.2021 clarifying their resolution plan, stating their commitment to the payment schedule and resolution of the corporate debtor. The affidavit also addressed concerns regarding litigations and affirmed that the upfront payment of Rs. 16.10 crores would remain the
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The consortium of Prabhat Warehouse Cold…
The resolution…
The case involves an application (IA 2193/2022) filed under Section 60(5) r/w Rule 11 of NCLT Rules, 2016, seeking direction to the Committee of Creditors (CoC) to consider a revised resolution plan. The CoC had previously deliberated on resolution plans, including one from a consortium led by the appellant. Defects and technical difficulties were pointed out during the deliberations. The appellant submitted an affidavit clarifying their resolution plan, stating their commitment to the payment schedule and resolution of the corporate debtor.
Shyam Sel And Power Limited filed an application (IA No. 2193/2022) under Section 60(5) r/w Rule 11 of NCLT Rules, 2016, seeking a direction to the Committee of Creditors (CoC) to consider a revised resolution plan. The CoC had previously deliberated on resolution plans, including one from a consortium led by the appellant, Ajay Gupta of Prabhat Warehouse and Cold Storage Private Ltd. During the deliberations, defects and technical difficulties were pointed out. Ajay Gupta submitted an affidavit dated 17.11.2021 clarifying their resolution plan, stating their commitment to the payment schedule and resolution of the corporate debtor. The affidavit also addressed concerns regarding litigations and affirmed that the upfront payment of Rs. 16.10 crores would remain the
…The consortium of Prabhat Warehouse Cold…
The resolution…