The case involves an application under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for approval of a Resolution Plan. The court is reviewing the resolution plan submitted by the applicant.
Meher Oil Industries Pvt. Ltd. is the Operational Creditor. Swastik Oil Refinery Pvt. Ltd. is the Corporate Debtor. Tapan Chakraborty is the Resolution Professional of Swastik Oil Refinery Pvt. Ltd and is the Resolution Professional/Applicant. Uma Exports Ltd. is the Resolution Applicant. The Committee of Creditors (CoC) allegedly approved the resolution plan in response to the voting agenda of the 13th CoC meeting dated 2023-01-04. However, records indicate no meeting took place on that date. The 13th CoC meeting took place on 2023-01-05, but the voting result attached is from a meeting dated 2022-11-04. Similar discrepancies exist for the 12th and 11th CoC meetings. Form H mentions the date of approval of the resolution plan as 2023-02-23, but there is no document
…Sign in to view the parties.
Date of pronou…
According to the submissions, the Committee of…
The case involves an application under section 30(6) and section 31(1) of the Insolvency & Bankruptcy Code, 2016, read with regulation 39(4) of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, for approval of a Resolution Plan. The court is reviewing the resolution plan submitted by the applicant.
Meher Oil Industries Pvt. Ltd. is the Operational Creditor. Swastik Oil Refinery Pvt. Ltd. is the Corporate Debtor. Tapan Chakraborty is the Resolution Professional of Swastik Oil Refinery Pvt. Ltd and is the Resolution Professional/Applicant. Uma Exports Ltd. is the Resolution Applicant. The Committee of Creditors (CoC) allegedly approved the resolution plan in response to the voting agenda of the 13th CoC meeting dated 2023-01-04. However, records indicate no meeting took place on that date. The 13th CoC meeting took place on 2023-01-05, but the voting result attached is from a meeting dated 2022-11-04. Similar discrepancies exist for the 12th and 11th CoC meetings. Form H mentions the date of approval of the resolution plan as 2023-02-23, but there is no document
…Date of pronou…
According to the submissions, the Committee of…