This is an application filed by Bank of India, the sole member of the Committee of Creditors (CoC), against Nithin Proteins Private Limited, the Corporate Debtor. The application contests the actions of the erstwhile Interim Resolution Professional (IRP), Mr. Pavan Kankani, in admitting claims of Respondent No.2 and Respondent No.3, which allegedly reduced the Applicant Bank's voting share. The Applicant seeks to declare the voting shares allotted to Respondents 2 and 3 as arbitrary and illegal, and to have all CIRP costs borne by the Corporate Debtor, arguing that the CP filed by the Corporate Debtor is an abuse of process.
Bank of India, as the sole member of the Committee of Creditors (CoC), filed an application against M/s. Nithin Proteins Private Limited, the Corporate Debtor. The application contested the actions of the erstwhile Interim Resolution Professional (IRP), Mr. Pavan Kankani, in admitting claims of Respondent No.2 and Respondent No.3, which allegedly reduced the Applicant Bank's voting share. The Applicant sought to declare the voting shares allotted to Respondent No.2 (44.16%) and Respondent No.3 (30.73%) as arbitrary and illegal. The Applicant also sought to have all CIRP costs borne by the Corporate Debtor, arguing that the CP filed by the Corporate Debtor is a gross abuse of process. The Corporate Debtor was classified as NPA with effect from 30.06.2016. The Applicant
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Corporate Debtor was…
The CP was admitted on…
This is an application filed by Bank of India, the sole member of the Committee of Creditors (CoC), against Nithin Proteins Private Limited, the Corporate Debtor. The application contests the actions of the erstwhile Interim Resolution Professional (IRP), Mr. Pavan Kankani, in admitting claims of Respondent No.2 and Respondent No.3, which allegedly reduced the Applicant Bank's voting share. The Applicant seeks to declare the voting shares allotted to Respondents 2 and 3 as arbitrary and illegal, and to have all CIRP costs borne by the Corporate Debtor, arguing that the CP filed by the Corporate Debtor is an abuse of process.
Bank of India, as the sole member of the Committee of Creditors (CoC), filed an application against M/s. Nithin Proteins Private Limited, the Corporate Debtor. The application contested the actions of the erstwhile Interim Resolution Professional (IRP), Mr. Pavan Kankani, in admitting claims of Respondent No.2 and Respondent No.3, which allegedly reduced the Applicant Bank's voting share. The Applicant sought to declare the voting shares allotted to Respondent No.2 (44.16%) and Respondent No.3 (30.73%) as arbitrary and illegal. The Applicant also sought to have all CIRP costs borne by the Corporate Debtor, arguing that the CP filed by the Corporate Debtor is a gross abuse of process. The Corporate Debtor was classified as NPA with effect from 30.06.2016. The Applicant
…Corporate Debtor was…
The CP was admitted on…