The application IA(IBC)/857(CHE)/2022 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, by the liquidator of Infinitas Energy Solutions Private Limited, seeking to direct Shree Ganesh EPC Private Limited to admit the claim of the applicant amounting to Rs. 15,04,53,231 and to modify the report of the stakeholders of the respondent. The applicant was admitted to CIRP on 18.09.2017, and liquidation was ordered on 06.02.2019. The liquidator of the respondent rejected the claim of the applicant on the ground that the applicant has not submitted any document, agreement, or bank statement to support its claim.
Infinitas Energy Solutions Private Limited (the Applicant) sought to direct Shree Ganesh EPC Private Limited (the Respondent) to admit a claim of Rs. 15,04,53,231. The Applicant was admitted to CIRP on 18.09.2017, and liquidation was ordered on 06.02.2019. The Applicant invested Rs. 12,03,65,000 in the equity shares of the Respondent in FY 2015-16. The Applicant also extended a loan of Rs. 3,00,88,231 to the Respondent until 2015. The Liquidator of the Respondent rejected the claim, stating that the Applicant did not provide supporting documents. The Applicant argued that the share application money falls under the definition of deposit and that the Respondent should have refunded the amount. The Respondent stated that the Applicant failed to provide additional
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Infinitas Energy…
Liquidation of…
The application IA(IBC)/857(CHE)/2022 was filed under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, read with Rule 11 of the NCLT Rules, 2016, by the liquidator of Infinitas Energy Solutions Private Limited, seeking to direct Shree Ganesh EPC Private Limited to admit the claim of the applicant amounting to Rs. 15,04,53,231 and to modify the report of the stakeholders of the respondent. The applicant was admitted to CIRP on 18.09.2017, and liquidation was ordered on 06.02.2019. The liquidator of the respondent rejected the claim of the applicant on the ground that the applicant has not submitted any document, agreement, or bank statement to support its claim.
Infinitas Energy Solutions Private Limited (the Applicant) sought to direct Shree Ganesh EPC Private Limited (the Respondent) to admit a claim of Rs. 15,04,53,231. The Applicant was admitted to CIRP on 18.09.2017, and liquidation was ordered on 06.02.2019. The Applicant invested Rs. 12,03,65,000 in the equity shares of the Respondent in FY 2015-16. The Applicant also extended a loan of Rs. 3,00,88,231 to the Respondent until 2015. The Liquidator of the Respondent rejected the claim, stating that the Applicant did not provide supporting documents. The Applicant argued that the share application money falls under the definition of deposit and that the Respondent should have refunded the amount. The Respondent stated that the Applicant failed to provide additional
…Infinitas Energy…
Liquidation of…