The case involves an application (IA No. 1077 of 2020) filed by the Resolution Professional of M/s. Pawan Doot Estates Private Limited, seeking approval of a resolution plan submitted by a consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar Footwear Private Limited. The application is filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, and Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process of Corporate Persons) Regulations 2016.
Edelweiss Asset Reconstruction Company Limited initiated corporate insolvency resolution process against Pawan Doot Estate Private Limited. Darshan Singh Anand was appointed as the Resolution Professional. A resolution plan was submitted by a consortium of Pradeep Kumar Lathar and Mehar Footwear Private Limited. The Resolution Professional filed IA No. 1077 of 2020 seeking approval of the resolution plan. The court observed deficiencies in the documents submitted, specifically the absence of the affidavit under Section 29A of IBC for Pradeep Kumar Lathar and the lack of proof of Performance Guarantee. The resolution plan was submitted by a consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar Footwear Private Limited.
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Company Petit…
IA No. 1077/ND/2020 was filed by the…
The case involves an application (IA No. 1077 of 2020) filed by the Resolution Professional of M/s. Pawan Doot Estates Private Limited, seeking approval of a resolution plan submitted by a consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar Footwear Private Limited. The application is filed under Section 30(6) read with Section 31(1) of the Insolvency and Bankruptcy Code, 2016, and Regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process of Corporate Persons) Regulations 2016.
Edelweiss Asset Reconstruction Company Limited initiated corporate insolvency resolution process against Pawan Doot Estate Private Limited. Darshan Singh Anand was appointed as the Resolution Professional. A resolution plan was submitted by a consortium of Pradeep Kumar Lathar and Mehar Footwear Private Limited. The Resolution Professional filed IA No. 1077 of 2020 seeking approval of the resolution plan. The court observed deficiencies in the documents submitted, specifically the absence of the affidavit under Section 29A of IBC for Pradeep Kumar Lathar and the lack of proof of Performance Guarantee. The resolution plan was submitted by a consortium of Mr. Pradeep Kumar Lathar and M/s. Mehar Footwear Private Limited.
Company Petit…
IA No. 1077/ND/2020 was filed by the…