The instant interlocutory application was filed by Raj Kumar Sahani, the ex-director and shareholder of Vibrant Buildwell Private Limited (Corporate Debtor), seeking leave to place additional documents on record. This application arises from an earlier Interlocutory Application I.A./4173/ND/2023 filed by the applicant challenging the approval of the Resolution Plan by the Committee of Creditors (CoC) under Section 60(5)(c) of the Code, 2016.
Raj Kumar Sahani, the ex-director and shareholder of Vibrant Buildwell Private Limited (Corporate Debtor), filed an interlocutory application seeking to introduce additional documents in a case challenging the resolution plan approved by the Committee of Creditors (CoC). The applicant argues that the Resolution Professional's move to register the Corporate Debtor as an MSME post-CIRP commencement is illegal, aiming to benefit a related party, Bishwanath Traders and Investments Limited, circumventing Section 29A ineligibility. The CoC's 4th meeting on 2022-05-20 discussed MSME registration benefits, including collateral-free credit and overdraft benefits. The Resolution Professional, Ashish Singh, argued the application was mala fide and intended to derail the CIRP. The
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The Adjudicating Authority issued notice to…
The instant interlocutory application was filed by Raj Kumar Sahani, the ex-director and shareholder of Vibrant Buildwell Private Limited (Corporate Debtor), seeking leave to place additional documents on record. This application arises from an earlier Interlocutory Application I.A./4173/ND/2023 filed by the applicant challenging the approval of the Resolution Plan by the Committee of Creditors (CoC) under Section 60(5)(c) of the Code, 2016.
Raj Kumar Sahani, the ex-director and shareholder of Vibrant Buildwell Private Limited (Corporate Debtor), filed an interlocutory application seeking to introduce additional documents in a case challenging the resolution plan approved by the Committee of Creditors (CoC). The applicant argues that the Resolution Professional's move to register the Corporate Debtor as an MSME post-CIRP commencement is illegal, aiming to benefit a related party, Bishwanath Traders and Investments Limited, circumventing Section 29A ineligibility. The CoC's 4th meeting on 2022-05-20 discussed MSME registration benefits, including collateral-free credit and overdraft benefits. The Resolution Professional, Ashish Singh, argued the application was mala fide and intended to derail the CIRP. The
…The Committee of Creditors discussed the…
The Adjudicating Authority issued notice to…