This case involves an application (IA 3524/2023) filed by Rakesh Kumar Agarwal, the Resolution Applicant of Shirdi Industries Limited (Corporate Debtor), seeking directions regarding the payment of operational creditors and resolution of contingent liabilities under the approved Resolution Plan. The Resolution Plan was approved on 12.12.2017. The applicant sought clarification on Clause No. 57 and 58 of the resolution plan, pertaining to payments to operational creditors and contingent liabilities, particularly concerning statutory, tax, and government authorities. The applicant also stated that they are receiving notices and facing adjudication proceedings for assessment periods prior to the approval of the resolution plan.
Rakesh Kumar Agarwal, the Resolution Applicant of Shirdi Industries Limited (Corporate Debtor), filed IA 3524/2023 seeking directions regarding payments to operational creditors and resolution of contingent liabilities under the approved Resolution Plan. The Resolution Plan was approved on 12.12.2017. The application concerns Clause No. 57 and 58 of the resolution plan, which address payments to operational creditors and contingent liabilities, especially concerning statutory, tax, and government authorities. The applicant claimed to be receiving notices and facing adjudication proceedings for assessment periods prior to the plan approval date. The Respondent, CA Devender P. Jain, the former Resolution Professional, filed a reply. The Tribunal had previously initiated
…Sign in to view the parties.
Applicant filed an application under Section 10…
Tribunal allowed the application under…
This case involves an application (IA 3524/2023) filed by Rakesh Kumar Agarwal, the Resolution Applicant of Shirdi Industries Limited (Corporate Debtor), seeking directions regarding the payment of operational creditors and resolution of contingent liabilities under the approved Resolution Plan. The Resolution Plan was approved on 12.12.2017. The applicant sought clarification on Clause No. 57 and 58 of the resolution plan, pertaining to payments to operational creditors and contingent liabilities, particularly concerning statutory, tax, and government authorities. The applicant also stated that they are receiving notices and facing adjudication proceedings for assessment periods prior to the approval of the resolution plan.
Rakesh Kumar Agarwal, the Resolution Applicant of Shirdi Industries Limited (Corporate Debtor), filed IA 3524/2023 seeking directions regarding payments to operational creditors and resolution of contingent liabilities under the approved Resolution Plan. The Resolution Plan was approved on 12.12.2017. The application concerns Clause No. 57 and 58 of the resolution plan, which address payments to operational creditors and contingent liabilities, especially concerning statutory, tax, and government authorities. The applicant claimed to be receiving notices and facing adjudication proceedings for assessment periods prior to the plan approval date. The Respondent, CA Devender P. Jain, the former Resolution Professional, filed a reply. The Tribunal had previously initiated
…Applicant filed an application under Section 10…
Tribunal allowed the application under…