The case involves applications filed by the Successful Resolution Applicant (SRA) seeking specific reliefs for the implementation of the resolution plan under the Insolvency and Bankruptcy Code (IBC). Notices were issued in all Interlocutory Applications (IAs), but service was affected in some cases and remained incomplete in others. The SRA sought to have the respondents set ex-parte to facilitate plan implementation. The respondents, including GST Department, Tehsildar Lucknow, and Commercial Tax Department Lucknow, did not appear.
ICICI Bank Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against VIL Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Successful Resolution Applicant (SRA) filed several Interlocutory Applications (IAs) seeking specific reliefs for the implementation of the resolution plan. Notices were issued to the respondents, including government departments like GST Department, Tehsildar Lucknow, and Commercial Tax Department Lucknow, but they did not appear. The SRA requested the court to set the respondents ex-parte to proceed with the plan implementation. The court observed that verifying the service of notices on the respondents consumed significant judicial time. The court directed the IBBI and MCA to provide input on modifying the
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The court had asked the Insolvency and…
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The case involves applications filed by the Successful Resolution Applicant (SRA) seeking specific reliefs for the implementation of the resolution plan under the Insolvency and Bankruptcy Code (IBC). Notices were issued in all Interlocutory Applications (IAs), but service was affected in some cases and remained incomplete in others. The SRA sought to have the respondents set ex-parte to facilitate plan implementation. The respondents, including GST Department, Tehsildar Lucknow, and Commercial Tax Department Lucknow, did not appear.
ICICI Bank Ltd. initiated a Corporate Insolvency Resolution Process (CIRP) against VIL Ltd. under Section 7 of the Insolvency and Bankruptcy Code (IBC). The Successful Resolution Applicant (SRA) filed several Interlocutory Applications (IAs) seeking specific reliefs for the implementation of the resolution plan. Notices were issued to the respondents, including government departments like GST Department, Tehsildar Lucknow, and Commercial Tax Department Lucknow, but they did not appear. The SRA requested the court to set the respondents ex-parte to proceed with the plan implementation. The court observed that verifying the service of notices on the respondents consumed significant judicial time. The court directed the IBBI and MCA to provide input on modifying the
…The court had asked the Insolvency and…
The court passed an order directing the…
Sign in to view related legal provisions.