The case involves multiple applications (IA-2479/2021, IA-5985/2021, IA-1151/2022, IA-2457/2020) filed under the Insolvency and Bankruptcy Code (IBC) and NCLT Rules. IA-2479/2021 was filed by the Chairperson of the Monitoring Committee seeking liquidation of the Corporate Debtor as a going concern under Section 33 of the IBC. A resolution plan had been previously approved but was not implemented by the Resolution Applicants, leading to its rejection. IA-1151/2022 was filed by Bharat Sharma, a joint proponent of the earlier resolution plan, seeking directions for the Resolution Professional to convene a meeting of the Committee of Creditors. IA-5985/2021 was filed by a prospective resolution applicant seeking approval of a resolution plan and extension of the CIRP
…Oriental Bank of Commerce initiated proceedings against M/s. Pellet Energy Systems Pvt Ltd. A resolution plan was approved but not implemented by Respondent Nos. 2 and 3. The Tribunal rejected the plan on 2021-07-01. Ms. Reshma Mittal, Chairperson of the Monitoring Committee, filed IA-2479/2021 seeking liquidation under Section 33 of the IBC. The Monitoring Committee decided on 2021-05-29 to liquidate the Corporate Debtor as a going concern. Bharat Sharma, a joint proponent of the earlier plan, filed IA-1151/2022 seeking directions to convene a meeting of the Committee of Creditors. A prospective resolution applicant filed IA-5985/2021 seeking approval of a new resolution plan and extension of the CIRP period. Ms. Reshma Mittal failed to inform the Tribunal about the
…Sign in to view the parties.
The Tribunal rejected…
The Monitoring Committee…
The case involves multiple applications (IA-2479/2021, IA-5985/2021, IA-1151/2022, IA-2457/2020) filed under the Insolvency and Bankruptcy Code (IBC) and NCLT Rules. IA-2479/2021 was filed by the Chairperson of the Monitoring Committee seeking liquidation of the Corporate Debtor as a going concern under Section 33 of the IBC. A resolution plan had been previously approved but was not implemented by the Resolution Applicants, leading to its rejection. IA-1151/2022 was filed by Bharat Sharma, a joint proponent of the earlier resolution plan, seeking directions for the Resolution Professional to convene a meeting of the Committee of Creditors. IA-5985/2021 was filed by a prospective resolution applicant seeking approval of a resolution plan and extension of the CIRP
…Oriental Bank of Commerce initiated proceedings against M/s. Pellet Energy Systems Pvt Ltd. A resolution plan was approved but not implemented by Respondent Nos. 2 and 3. The Tribunal rejected the plan on 2021-07-01. Ms. Reshma Mittal, Chairperson of the Monitoring Committee, filed IA-2479/2021 seeking liquidation under Section 33 of the IBC. The Monitoring Committee decided on 2021-05-29 to liquidate the Corporate Debtor as a going concern. Bharat Sharma, a joint proponent of the earlier plan, filed IA-1151/2022 seeking directions to convene a meeting of the Committee of Creditors. A prospective resolution applicant filed IA-5985/2021 seeking approval of a new resolution plan and extension of the CIRP period. Ms. Reshma Mittal failed to inform the Tribunal about the
…The Tribunal rejected…
The Monitoring Committee…