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 Committee of Creditors (COC) for approval, also requesting condonation of delay. The Applicant was invited to the 5th CoC meeting on 17.09.2022 where the Resolution Plan submitted by Madhya Pradesh Waste Management Private Limited (MPWMPL) was put before 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. The Applicant felt that it could give a better resolution plan than the one approved by the COC.
Afita Construction Pvt Ltd, an Operational Creditor, filed IA No. 1410/2022 seeking directions for the Resolution Professional to accept their Resolution Plan and place it before the COC for approval, also requesting condonation of delay. The Applicant attended the 5th CoC meeting on 17.09.2022 where the Resolution Plan submitted by Madhya Pradesh Waste Management Private Limited (MPWMPL) was considered. The Applicant was dissatisfied with the SRA's Resolution Plan, which covered only 4% of their claim. The COC had already approved a Resolution Plan received pursuant to Form-G publication. The Applicant had not submitted its proposal pursuant to Form-G. The resolution plan submitted by the SRA has been voted by the COC on 10.11.2022.
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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 Committee of Creditors (COC) for approval, also requesting condonation of delay. The Applicant was invited to the 5th CoC meeting on 17.09.2022 where the Resolution Plan submitted by Madhya Pradesh Waste Management Private Limited (MPWMPL) was put before 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. The Applicant felt that it could give a better resolution plan than the one approved by the COC.
Afita Construction Pvt Ltd, an Operational Creditor, filed IA No. 1410/2022 seeking directions for the Resolution Professional to accept their Resolution Plan and place it before the COC for approval, also requesting condonation of delay. The Applicant attended the 5th CoC meeting on 17.09.2022 where the Resolution Plan submitted by Madhya Pradesh Waste Management Private Limited (MPWMPL) was considered. The Applicant was dissatisfied with the SRA's Resolution Plan, which covered only 4% of their claim. The COC had already approved a Resolution Plan received pursuant to Form-G publication. The Applicant had not submitted its proposal pursuant to Form-G. The resolution plan submitted by the SRA has been voted by the COC on 10.11.2022.
The Applicant was invited to attend the 5th…
The resolution plan…
Sign in to view related legal provisions.