The case involves multiple IAs (Intervention Applications) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Tayo Rolls Limited. The CIRP was initiated based on a petition filed by Suresh Narayan Singh, an Operational Creditor. The applications primarily concern the constitution of the Committee of Creditors (CoC), the eligibility of the Resolution Professional (RP), and the claims of various creditors, particularly Jharkhand Bijli Vitran Nigam Limited (JBVNL) and the workmen of Tayo Rolls Limited. The IAs are being considered analogously due to their interrelation.
Suresh Narayan Singh, an Operational Creditor, filed a Company Petition (C.P. (IB) No. 701/KB/2017) against Tayo Rolls Limited (Corporate Debtor) to initiate CIRP under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on April 5, 2019. Vinita Agarwal was initially appointed as the Interim Resolution Professional (IRP), but later replaced by Anish Agarwal through a CoC resolution on July 27, 2019, approved by the Adjudicating Authority on October 30, 2019. Suresh Narayan Singh, representing 284 workers of Tayo Rolls Limited, filed I.A. (IB) No. 69/KB/2020, I.A. (IB) No. 33/KB/2020, and I.A. (IB) No. 167/KB/2020, seeking adjudication of creditor claims, restoration of time lost without CIRP, and determination of the RP's eligibility. The
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Mr. Suresh Narayan Singh filed C.P. (IB) No.…
The Adjudicating Authority admitted the Company…
The case involves multiple IAs (Intervention Applications) filed in relation to the Corporate Insolvency Resolution Process (CIRP) of Tayo Rolls Limited. The CIRP was initiated based on a petition filed by Suresh Narayan Singh, an Operational Creditor. The applications primarily concern the constitution of the Committee of Creditors (CoC), the eligibility of the Resolution Professional (RP), and the claims of various creditors, particularly Jharkhand Bijli Vitran Nigam Limited (JBVNL) and the workmen of Tayo Rolls Limited. The IAs are being considered analogously due to their interrelation.
Suresh Narayan Singh, an Operational Creditor, filed a Company Petition (C.P. (IB) No. 701/KB/2017) against Tayo Rolls Limited (Corporate Debtor) to initiate CIRP under Section 9 of the Insolvency and Bankruptcy Code, 2016. The petition was admitted on April 5, 2019. Vinita Agarwal was initially appointed as the Interim Resolution Professional (IRP), but later replaced by Anish Agarwal through a CoC resolution on July 27, 2019, approved by the Adjudicating Authority on October 30, 2019. Suresh Narayan Singh, representing 284 workers of Tayo Rolls Limited, filed I.A. (IB) No. 69/KB/2020, I.A. (IB) No. 33/KB/2020, and I.A. (IB) No. 167/KB/2020, seeking adjudication of creditor claims, restoration of time lost without CIRP, and determination of the RP's eligibility. The
…Mr. Suresh Narayan Singh filed C.P. (IB) No.…
The Adjudicating Authority admitted the Company…