The Adjudicating Authority admitted an Insolvency Application filed by Apollo Pipes Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Tonk Water Supply Limited. Subsequently, Essel Infraproject Limited, claiming to be a financial creditor, filed an application (IA No. 337/JPR/2023) under Section 60(5) of the IBC, 2016 read with regulation 12 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016, challenging the rejection of its claim by the Resolution Professional (RP). The RP rejected the claim because it was filed late.
Apollo Pipes Private Limited initiated CIRP against Tonk Water Supply Limited. The CIRP commenced on 2022-09-16. A public announcement was made on 2022-09-21. Essel Infraproject Limited filed a claim of Rs. 94,93,11,859 on 2023-04-19, which was rejected by the RP for being filed late. The last date for submission of claims was 2022-10-03. The RP relied on a NCLAT judgment in the matter of The Assistant Commissioner, Central Tax, CGST & CX Vs Avishek Gupta. The CoC had already approved liquidation and filed IA No. 408/JPR/2023 for liquidation. The RP stated that the claim was submitted 198 days after the last date mentioned in Form-A.
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Corporate Insolvency…
IRP issued public…
The Adjudicating Authority admitted an Insolvency Application filed by Apollo Pipes Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, initiating the Corporate Insolvency Resolution Process (CIRP) against Tonk Water Supply Limited. Subsequently, Essel Infraproject Limited, claiming to be a financial creditor, filed an application (IA No. 337/JPR/2023) under Section 60(5) of the IBC, 2016 read with regulation 12 of the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulation, 2016, challenging the rejection of its claim by the Resolution Professional (RP). The RP rejected the claim because it was filed late.
Apollo Pipes Private Limited initiated CIRP against Tonk Water Supply Limited. The CIRP commenced on 2022-09-16. A public announcement was made on 2022-09-21. Essel Infraproject Limited filed a claim of Rs. 94,93,11,859 on 2023-04-19, which was rejected by the RP for being filed late. The last date for submission of claims was 2022-10-03. The RP relied on a NCLAT judgment in the matter of The Assistant Commissioner, Central Tax, CGST & CX Vs Avishek Gupta. The CoC had already approved liquidation and filed IA No. 408/JPR/2023 for liquidation. The RP stated that the claim was submitted 198 days after the last date mentioned in Form-A.
Corporate Insolvency…
IRP issued public…