The case involves an application (IA 2399 of 2023) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against M/s Monarch Brookefields LLP (CP (IB) 2517(MB) of 2018). The applicant, Mr. Abushema Choudhary, sought condonation of a delay of 1,185 days in filing his proof of claim and a direction to the Respondent/Resolution Professional to allow his claim of Rs. 37,00,000/- plus interest. The Resolution Professional rejected the claim due to the delay and the pending status of the Resolution Plan. The applicant claimed unawareness of the CIRP initiation due to the Covid-19 pandemic and a subsequent medical emergency. The respondent argued that the Information Memorandum (IM) was prepared before the applicant's claim, and the claim was not
…Mr. Abushema Choudhary filed an application to condone a delay of 1,185 days in submitting his claim of Rs. 37,00,000 plus interest related to a shop purchase agreement with Monarch Brookefields LLP, the Corporate Debtor. The CIRP against Monarch Brookefields LLP had been initiated, and Mr. Arun Kumar was appointed as the Resolution Professional. The applicant claimed he was unaware of the CIRP due to the Covid-19 pandemic and a medical emergency. He filed his claim on 10.03.2023. The Resolution Professional rejected the claim because of the delay and the fact that a Resolution Plan had already been approved by the Committee of Creditors (CoC) and was pending approval before the Tribunal. The Information Memorandum (IM) had been circulated to prospective Resolution
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Agreement of sale entered between the Applicant…
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The case involves an application (IA 2399 of 2023) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against M/s Monarch Brookefields LLP (CP (IB) 2517(MB) of 2018). The applicant, Mr. Abushema Choudhary, sought condonation of a delay of 1,185 days in filing his proof of claim and a direction to the Respondent/Resolution Professional to allow his claim of Rs. 37,00,000/- plus interest. The Resolution Professional rejected the claim due to the delay and the pending status of the Resolution Plan. The applicant claimed unawareness of the CIRP initiation due to the Covid-19 pandemic and a subsequent medical emergency. The respondent argued that the Information Memorandum (IM) was prepared before the applicant's claim, and the claim was not
…Mr. Abushema Choudhary filed an application to condone a delay of 1,185 days in submitting his claim of Rs. 37,00,000 plus interest related to a shop purchase agreement with Monarch Brookefields LLP, the Corporate Debtor. The CIRP against Monarch Brookefields LLP had been initiated, and Mr. Arun Kumar was appointed as the Resolution Professional. The applicant claimed he was unaware of the CIRP due to the Covid-19 pandemic and a medical emergency. He filed his claim on 10.03.2023. The Resolution Professional rejected the claim because of the delay and the fact that a Resolution Plan had already been approved by the Committee of Creditors (CoC) and was pending approval before the Tribunal. The Information Memorandum (IM) had been circulated to prospective Resolution
…Agreement of sale entered between the Applicant…
Last date for…