The Successful Resolution Applicant (SRA) filed applications seeking specific reliefs for the implementation of the resolution plan. Notices were issued, but service was not completed in all cases. The SRA requested the respondents to be set ex-parte to effectively implement the plan. The court noted that judicial time was being wasted on administrative duties related to service completion.
ICICI Bank Ltd. filed a case against VIL Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016 (CIRP). The Successful Resolution Applicant (SRA) filed multiple IAs (IA-2015/2022, IA-2762/2022, IA-2763/2022, IA-4768/2022, IA-5415/2022) seeking specific reliefs for the implementation of the resolution plan. Service of notice was not completed in all IAs, leading to delays. The SRA requested the respondents to be set ex-parte. Respondents, including GST Department, Tehsildar Lucknow, and Commercial Tax Department Lucknow, did not appear. The court directed IBBI to consider modifications to streamline service and pleadings. IA-2367/2020 was dismissed for non-prosecution as none appeared for the petitioner, and no steps were taken after the substitution of the
…Sign in to view the parties.
Case filed…
Order delivered…
Sign in to view related legal provisions.
The Successful Resolution Applicant (SRA) filed applications seeking specific reliefs for the implementation of the resolution plan. Notices were issued, but service was not completed in all cases. The SRA requested the respondents to be set ex-parte to effectively implement the plan. The court noted that judicial time was being wasted on administrative duties related to service completion.
ICICI Bank Ltd. filed a case against VIL Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016 (CIRP). The Successful Resolution Applicant (SRA) filed multiple IAs (IA-2015/2022, IA-2762/2022, IA-2763/2022, IA-4768/2022, IA-5415/2022) seeking specific reliefs for the implementation of the resolution plan. Service of notice was not completed in all IAs, leading to delays. The SRA requested the respondents to be set ex-parte. Respondents, including GST Department, Tehsildar Lucknow, and Commercial Tax Department Lucknow, did not appear. The court directed IBBI to consider modifications to streamline service and pleadings. IA-2367/2020 was dismissed for non-prosecution as none appeared for the petitioner, and no steps were taken after the substitution of the
…Case filed…
Order delivered…
Sign in to view related legal provisions.