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, and to condone the delay in submitting the plan. The Applicant was invited to the 5th CoC meeting on 17.09.2022, where Madhya Pradesh Waste Management Private Limited (MPWMPL)'s Resolution Plan was presented to the COC. The applicant was not satisfied with the resolution plan submitted by the SRA as the plan was covering only 4% of the Operational Creditor's claim.
Afita Construction Pvt Ltd, an Operational Creditor, filed an application (IA No. 1410/2022) seeking permission to submit a Resolution Plan and have the delay condoned. The applicant had attended the 5th CoC meeting where a resolution plan by Madhya Pradesh Waste Management Private Limited (MPWMPL) was presented. The applicant was dissatisfied with the existing plan, which covered only 4% of their claim. The COC had already approved a Resolution Plan received after the publication of Form-G. The applicant had not submitted its proposal pursuant to Form-G. The resolution plan submitted by the SRA had been voted on by the COC on 2022-11-10. The applicant sought to submit a resolution plan after the COC's approval of another plan.
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The Applicant was invited to attend the 5th…
The resolution plan…
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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, and to condone the delay in submitting the plan. The Applicant was invited to the 5th CoC meeting on 17.09.2022, where Madhya Pradesh Waste Management Private Limited (MPWMPL)'s Resolution Plan was presented to the COC. The applicant was not satisfied with the resolution plan submitted by the SRA as the plan was covering only 4% of the Operational Creditor's claim.
Afita Construction Pvt Ltd, an Operational Creditor, filed an application (IA No. 1410/2022) seeking permission to submit a Resolution Plan and have the delay condoned. The applicant had attended the 5th CoC meeting where a resolution plan by Madhya Pradesh Waste Management Private Limited (MPWMPL) was presented. The applicant was dissatisfied with the existing plan, which covered only 4% of their claim. The COC had already approved a Resolution Plan received after the publication of Form-G. The applicant had not submitted its proposal pursuant to Form-G. The resolution plan submitted by the SRA had been voted on by the COC on 2022-11-10. The applicant sought to submit a resolution plan after the COC's approval of another plan.
The Applicant was invited to attend the 5th…
The resolution plan…
Sign in to view related legal provisions.