The application, I.A. 4224/2021, was filed by the Prospective Resolution Applicant, Mr. Yashmin Sabir Ali, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016, seeking a direction to the Resolution Professional to place the Applicant's Resolution Plan before the Committee of Creditors (CoC). The applicant also sought rejection of the Resolution Plan submitted by Respondent No. 2 and a fresh voting process, barring Respondent No. 2 from submitting a fresh Resolution Plan, and directing Respondent No. 1 to take legal action against Respondent No. 2 for submitting forged documents to the CoC.
Ravinder Aggarwal & Ors. is the Financial Creditor. M/S MSA Developers Private Limited is the Corporate Debtor. Yasmin Sabir Ali is the Applicant, seeking to have his resolution plan considered. Rabindra Kumari Mintri is Respondent No. 1, and Deepak Aggarwal is Respondent No. 2. The Committee of Creditors (CoC) had already approved a Resolution Plan with 80.12% voting shares in its 12th meeting held on August 31, 2021. The applicant's resolution plan was also put to vote before the CoC. The CoC approved the Resolution Plan submitted by Respondent No. 2. The applicant raised allegations against the Successful Resolution Applicant, which the IRP had already pointed out in IA 1078/ND/2022.
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The Committee of…
Hon'ble NCLAT Chennai issued a judgment in IA…
The application, I.A. 4224/2021, was filed by the Prospective Resolution Applicant, Mr. Yashmin Sabir Ali, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of NCLT Rules, 2016, seeking a direction to the Resolution Professional to place the Applicant's Resolution Plan before the Committee of Creditors (CoC). The applicant also sought rejection of the Resolution Plan submitted by Respondent No. 2 and a fresh voting process, barring Respondent No. 2 from submitting a fresh Resolution Plan, and directing Respondent No. 1 to take legal action against Respondent No. 2 for submitting forged documents to the CoC.
Ravinder Aggarwal & Ors. is the Financial Creditor. M/S MSA Developers Private Limited is the Corporate Debtor. Yasmin Sabir Ali is the Applicant, seeking to have his resolution plan considered. Rabindra Kumari Mintri is Respondent No. 1, and Deepak Aggarwal is Respondent No. 2. The Committee of Creditors (CoC) had already approved a Resolution Plan with 80.12% voting shares in its 12th meeting held on August 31, 2021. The applicant's resolution plan was also put to vote before the CoC. The CoC approved the Resolution Plan submitted by Respondent No. 2. The applicant raised allegations against the Successful Resolution Applicant, which the IRP had already pointed out in IA 1078/ND/2022.
The Committee of…
Hon'ble NCLAT Chennai issued a judgment in IA…