IA 2154/2021 was filed in CP(IB)-1890(MB)/2018 by Mr. Hiren A Gor, an employee of the Corporate Debtor Company, challenging the rejection of the Resolution Plan submitted by the suspended Promoter of the Corporate Debtor Company, M/s Nitin Fire Protection Industries Limited. The applicant argued that the Resolution Plan of the ex-Promoter/Director should be approved to prevent job losses for him and other workers.
Mr. Hiren A Gor, an employee of Nitin Fire Protection Industries Limited, the Corporate Debtor, filed IA 2154/2021 challenging the rejection of a Resolution Plan submitted by the suspended promoter. Gor argued that the plan's rejection would lead to job losses. The Committee of Creditors (CoC) had rejected the plan after detailed deliberations, considering its viability. The applicant is an employee, collusion between the suspended promoter and the Petitioner in filing the above Petition cannot be ruled out. Even otherwise the Petitioner has no locus to file the present application.
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IA 2154/2021 in CP(IB)-1890(MB)/2018 was filed…
The Bench dismissed IA 2154/2021, upholding the…
IA 2154/2021 was filed in CP(IB)-1890(MB)/2018 by Mr. Hiren A Gor, an employee of the Corporate Debtor Company, challenging the rejection of the Resolution Plan submitted by the suspended Promoter of the Corporate Debtor Company, M/s Nitin Fire Protection Industries Limited. The applicant argued that the Resolution Plan of the ex-Promoter/Director should be approved to prevent job losses for him and other workers.
Mr. Hiren A Gor, an employee of Nitin Fire Protection Industries Limited, the Corporate Debtor, filed IA 2154/2021 challenging the rejection of a Resolution Plan submitted by the suspended promoter. Gor argued that the plan's rejection would lead to job losses. The Committee of Creditors (CoC) had rejected the plan after detailed deliberations, considering its viability. The applicant is an employee, collusion between the suspended promoter and the Petitioner in filing the above Petition cannot be ruled out. Even otherwise the Petitioner has no locus to file the present application.
IA 2154/2021 in CP(IB)-1890(MB)/2018 was filed…
The Bench dismissed IA 2154/2021, upholding the…