The case involves an application (IA No. 247/2022) filed by Prince Jain in CP (IB) No. 45/ALD/2019 under Rule 11 of the NCLT Rules, 2016 and Order 1 Rule 10 of CPC for intervention/impleadment in I.A. No. 193 of 2022. Prince Jain, a shareholder in Ratandeep Infrastructure Private Limited, sought to be impleaded in IA 193/2022, which was filed by the liquidator, Alok Kumar Kuchhal. The applicant claimed that the liquidator acted in violation of Section 40(2) of the Code, 2016 by belatedly acknowledging the claim. The applicant also stated that the tribunal allowed the impleadment of M/s Bankey Bihari Infrahomes Private Limited in IA No. 193 of 2022 vide an order dated 05.07.2022. The applicant also filed a separate application i.e. I.A No. 177 of 2022 wherein this
…Prince Jain filed IA No. 247/2022 seeking impleadment in IA No. 193/2022, which was filed by the liquidator, Alok Kumar Kuchhal, in CP (IB) No. 45/ALD/2019. Prince Jain claimed to be a shareholder in the corporate debtor, Ratandeep Infrastructure Private Limited, with a total claim of Rs. 1.85 crores. The liquidator opposed the impleadment, arguing that Prince Jain lacked locus standi because he invested in the corporate debtor during the pending adjudication of CIRP proceedings and purchased 32% shares shortly before the commencement of CIRP. The Resolution Professional had initially placed Prince Jain's claim on hold due to the shares not being transferred. The applicant also filed a separate application i.e. I.A No. 177 of 2022 wherein this tribunal vide an order
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The case involves an application (IA No. 247/2022) filed by Prince Jain in CP (IB) No. 45/ALD/2019 under Rule 11 of the NCLT Rules, 2016 and Order 1 Rule 10 of CPC for intervention/impleadment in I.A. No. 193 of 2022. Prince Jain, a shareholder in Ratandeep Infrastructure Private Limited, sought to be impleaded in IA 193/2022, which was filed by the liquidator, Alok Kumar Kuchhal. The applicant claimed that the liquidator acted in violation of Section 40(2) of the Code, 2016 by belatedly acknowledging the claim. The applicant also stated that the tribunal allowed the impleadment of M/s Bankey Bihari Infrahomes Private Limited in IA No. 193 of 2022 vide an order dated 05.07.2022. The applicant also filed a separate application i.e. I.A No. 177 of 2022 wherein this
…Prince Jain filed IA No. 247/2022 seeking impleadment in IA No. 193/2022, which was filed by the liquidator, Alok Kumar Kuchhal, in CP (IB) No. 45/ALD/2019. Prince Jain claimed to be a shareholder in the corporate debtor, Ratandeep Infrastructure Private Limited, with a total claim of Rs. 1.85 crores. The liquidator opposed the impleadment, arguing that Prince Jain lacked locus standi because he invested in the corporate debtor during the pending adjudication of CIRP proceedings and purchased 32% shares shortly before the commencement of CIRP. The Resolution Professional had initially placed Prince Jain's claim on hold due to the shares not being transferred. The applicant also filed a separate application i.e. I.A No. 177 of 2022 wherein this tribunal vide an order
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