Edelweiss Assets Reconstruction Company Limited, a financial creditor and member of the CoC of Pawan Doot Estate Private Limited (the corporate debtor), filed IA No. 6012 of 2022 seeking deferment of orders in IA-1077/ND/2020, which is an application for approval of a resolution plan. The applicant sought deferment to allow for a settlement proposal under Section 12A of the IBC. The promoter of the corporate debtor, Mr. Hem Singh Bharana, submitted the settlement proposal, which was accepted by the management of the applicant and Canara Bank. The response from Bank of India, the remaining member of the CoC, was awaited. The Tribunal had dismissed another IA-5694/2022 filed by the promoter seeking hearing of the application for approval of the Resolution Plan in
…Edelweiss Assets Reconstruction Company Limited (EARCL), a financial creditor, filed IA No. 6012/ND/2022 seeking deferment of orders in IA-1077/ND/2020, an application for approval of a resolution plan for Pawan Doot Estate Private Limited, the corporate debtor. The applicant sought deferment to allow for a settlement proposal under Section 12A of the IBC. The promoter of the corporate debtor, Mr. Hem Singh Bharana, submitted a settlement proposal, which was accepted by the management of EARCL and Canara Bank. Bank of India's response was awaited. The Tribunal had dismissed IA-5694/2022 filed by the promoter seeking hearing of the application for approval of the Resolution Plan in abeyance. The applicant apprehended prejudice to the CoC members and defeat of value
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Promoter submitted a Settlement Proposal dated…
The Settlement Proposal…
Edelweiss Assets Reconstruction Company Limited, a financial creditor and member of the CoC of Pawan Doot Estate Private Limited (the corporate debtor), filed IA No. 6012 of 2022 seeking deferment of orders in IA-1077/ND/2020, which is an application for approval of a resolution plan. The applicant sought deferment to allow for a settlement proposal under Section 12A of the IBC. The promoter of the corporate debtor, Mr. Hem Singh Bharana, submitted the settlement proposal, which was accepted by the management of the applicant and Canara Bank. The response from Bank of India, the remaining member of the CoC, was awaited. The Tribunal had dismissed another IA-5694/2022 filed by the promoter seeking hearing of the application for approval of the Resolution Plan in
…Edelweiss Assets Reconstruction Company Limited (EARCL), a financial creditor, filed IA No. 6012/ND/2022 seeking deferment of orders in IA-1077/ND/2020, an application for approval of a resolution plan for Pawan Doot Estate Private Limited, the corporate debtor. The applicant sought deferment to allow for a settlement proposal under Section 12A of the IBC. The promoter of the corporate debtor, Mr. Hem Singh Bharana, submitted a settlement proposal, which was accepted by the management of EARCL and Canara Bank. Bank of India's response was awaited. The Tribunal had dismissed IA-5694/2022 filed by the promoter seeking hearing of the application for approval of the Resolution Plan in abeyance. The applicant apprehended prejudice to the CoC members and defeat of value
…Promoter submitted a Settlement Proposal dated…
The Settlement Proposal…