The case involves multiple applications (IA/374(AHM)2022, IA/413(AHM)2022, IA/474(AHM)2022) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Sintex BAPL Limited. The CIRP was initiated following an application by Zielen Industries Private Limited, an operational creditor. Subsequently, the shareholder of Sintex BAPL, Sintex Plastics Technology Pvt. Ltd., challenged the CIRP admission. During the appeal's pendency, Zielen Industries entered into a settlement with Sintex BAPL. The NCLAT directed both parties to approach the Adjudicating Authority to record the settlement and instructed the IRP not to constitute the Committee of Creditors (CoC) for one week. The shareholder then filed an application to record the settlement and set aside the
…The Corporate Debtor, Sintex BAPL Limited, was initially admitted into CIRP based on an application by its Operational Creditor, Zielen Industries Private Limited. The shareholder of Sintex BAPL, Sintex Plastics Technology Pvt. Ltd., challenged this admission. During the pendency of the appeal, Zielen Industries and Sintex BAPL reached a settlement. The NCLAT directed both parties to approach the Adjudicating Authority to record the settlement and instructed the IRP not to constitute the CoC for one week. Subsequently, the shareholder filed an application (IA No. 18(AHM)/2021) to record the settlement and set aside the CIRP, which was opposed by KKR India Financial Services Limited, a Financial Creditor. The Adjudicating Authority initially allowed the settlement and
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Sintex BAPL Limited was admitted into CIRP at…
Hon'ble NCLAT directed…
The case involves multiple applications (IA/374(AHM)2022, IA/413(AHM)2022, IA/474(AHM)2022) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Sintex BAPL Limited. The CIRP was initiated following an application by Zielen Industries Private Limited, an operational creditor. Subsequently, the shareholder of Sintex BAPL, Sintex Plastics Technology Pvt. Ltd., challenged the CIRP admission. During the appeal's pendency, Zielen Industries entered into a settlement with Sintex BAPL. The NCLAT directed both parties to approach the Adjudicating Authority to record the settlement and instructed the IRP not to constitute the Committee of Creditors (CoC) for one week. The shareholder then filed an application to record the settlement and set aside the
…The Corporate Debtor, Sintex BAPL Limited, was initially admitted into CIRP based on an application by its Operational Creditor, Zielen Industries Private Limited. The shareholder of Sintex BAPL, Sintex Plastics Technology Pvt. Ltd., challenged this admission. During the pendency of the appeal, Zielen Industries and Sintex BAPL reached a settlement. The NCLAT directed both parties to approach the Adjudicating Authority to record the settlement and instructed the IRP not to constitute the CoC for one week. Subsequently, the shareholder filed an application (IA No. 18(AHM)/2021) to record the settlement and set aside the CIRP, which was opposed by KKR India Financial Services Limited, a Financial Creditor. The Adjudicating Authority initially allowed the settlement and
…Sintex BAPL Limited was admitted into CIRP at…
Hon'ble NCLAT directed…