The case involves an application (IA No. 3114/ND/2023) filed in connection with a corporate insolvency resolution process (CIRP) initiated against Worlds Window Infrastructure & Logistics Private Limited. The applicant, Srei Infrastructure Finance Limited, raised concerns about the sale of equity shares held by the Corporate Debtor (Worlds Window) in Sanjvik Terminals Private Limited by Respondent No. 2, alleging that the sale occurred during a moratorium period imposed by the Adjudicating Authority. The applicant contends that Respondent No. 2 did not inform the Committee of Creditors (CoC) about the sale of these shares. The applicant sought directions from the Adjudicating Authority to compel Respondent No. 2 to hand over the sale proceeds of the shares.
Srei Infrastructure Finance Limited filed an application (IA No. 3114/ND/2023) concerning the corporate insolvency resolution process (CIRP) of Worlds Window Infrastructure & Logistics Private Limited. Srei Infrastructure Finance Limited, as the applicant, alleged that Respondent No. 2 sold equity shares held by the Corporate Debtor in Sanjvik Terminals Private Limited during the moratorium period imposed by the Adjudicating Authority. The applicant claimed that Respondent No. 2 did not inform the Committee of Creditors (CoC) about the sale of 4,52,809 equity shares. The sale allegedly violated Section 14 of the IBC, 2016, which prohibits the enforcement of security interests created by the Corporate Debtor during the moratorium. Respondent No. 2 argued that they
…Sign in to view the parties.
The Ministry of Corporate Affairs (MCA) issued…
Order passed by the Adjudicating Authority…
The case involves an application (IA No. 3114/ND/2023) filed in connection with a corporate insolvency resolution process (CIRP) initiated against Worlds Window Infrastructure & Logistics Private Limited. The applicant, Srei Infrastructure Finance Limited, raised concerns about the sale of equity shares held by the Corporate Debtor (Worlds Window) in Sanjvik Terminals Private Limited by Respondent No. 2, alleging that the sale occurred during a moratorium period imposed by the Adjudicating Authority. The applicant contends that Respondent No. 2 did not inform the Committee of Creditors (CoC) about the sale of these shares. The applicant sought directions from the Adjudicating Authority to compel Respondent No. 2 to hand over the sale proceeds of the shares.
Srei Infrastructure Finance Limited filed an application (IA No. 3114/ND/2023) concerning the corporate insolvency resolution process (CIRP) of Worlds Window Infrastructure & Logistics Private Limited. Srei Infrastructure Finance Limited, as the applicant, alleged that Respondent No. 2 sold equity shares held by the Corporate Debtor in Sanjvik Terminals Private Limited during the moratorium period imposed by the Adjudicating Authority. The applicant claimed that Respondent No. 2 did not inform the Committee of Creditors (CoC) about the sale of 4,52,809 equity shares. The sale allegedly violated Section 14 of the IBC, 2016, which prohibits the enforcement of security interests created by the Corporate Debtor during the moratorium. Respondent No. 2 argued that they
…The Ministry of Corporate Affairs (MCA) issued…
Order passed by the Adjudicating Authority…