Afita Construction Pvt Ltd, an Operational Creditor, filed IA No. 1410/2022 seeking directions to the Resolution Professional to allow them to submit a Resolution Plan, accept it, and place it before the COC for approval, also requesting condonation of delay in submitting the plan. The applicant was invited to the 5th CoC meeting on 17.09.2022, where a resolution plan submitted by Madhya Pradesh Waste Management Private Limited (MPWMPL) was presented to the COC. The applicant, after gaining knowledge of the details of the SRA's Resolution Plan, was dissatisfied as it covered only 4% of the Operational Creditor's claim and believed they could offer a better plan.
Afita Construction Pvt Ltd, an Operational Creditor, sought permission to submit a resolution plan after the Committee of Creditors (COC) had already considered a plan from Madhya Pradesh Waste Management Private Limited (MPWMPL). Afita Construction was present at the 5th COC meeting on 17.09.2022. Afita Construction was dissatisfied with the existing resolution plan, which covered only 4% of their claim. The COC had already approved a resolution plan received pursuant to the publication of Form-G. The Resolution plan submitted by the SRA had been voted by the COC on 2022-11-10. The applicant did not submit its proposal pursuant to the Form-G.
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Hearing he…
The Applicant was invited to attend the 5th…
Afita Construction Pvt Ltd, an Operational Creditor, filed IA No. 1410/2022 seeking directions to the Resolution Professional to allow them to submit a Resolution Plan, accept it, and place it before the COC for approval, also requesting condonation of delay in submitting the plan. The applicant was invited to the 5th CoC meeting on 17.09.2022, where a resolution plan submitted by Madhya Pradesh Waste Management Private Limited (MPWMPL) was presented to the COC. The applicant, after gaining knowledge of the details of the SRA's Resolution Plan, was dissatisfied as it covered only 4% of the Operational Creditor's claim and believed they could offer a better plan.
Afita Construction Pvt Ltd, an Operational Creditor, sought permission to submit a resolution plan after the Committee of Creditors (COC) had already considered a plan from Madhya Pradesh Waste Management Private Limited (MPWMPL). Afita Construction was present at the 5th COC meeting on 17.09.2022. Afita Construction was dissatisfied with the existing resolution plan, which covered only 4% of their claim. The COC had already approved a resolution plan received pursuant to the publication of Form-G. The Resolution plan submitted by the SRA had been voted by the COC on 2022-11-10. The applicant did not submit its proposal pursuant to the Form-G.
Hearing he…
The Applicant was invited to attend the 5th…