The case involves an application (IA (IBC)/1924/2023) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against XL Energy Limited. The applicant, Dhanadeep Consultants Pvt. Ltd., sought directives from the NCLT to compel the Resolution Professional and Committee of Creditors (CoC) to accept their resolution plan, condone delays in its submission, and call a CoC meeting for its consideration. The application arose because the applicant faced delays in accessing the data room, which they claimed hindered their ability to formulate a compliant resolution plan within the stipulated timeframe. The Financial Creditor, Invent Assets Securitization and Reconstruction Pvt. Ltd., had initiated the CIRP under Section 7 of the Insolvency and
…On 27.03.2023, XL Energy Limited was admitted into Corporate Insolvency Resolution Process (CIRP) following an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Invent Assets Securitization and Reconstruction Pvt. Ltd. Dhanadeep Consultants Pvt. Ltd. submitted an Expression of Interest (EoI) and was listed as a Prospective Resolution Applicant (PRA). The Resolution Professional published Form-G on 08.09.2023, setting 22.09.2023 as the deadline for EoI submission. Dhanadeep submitted its EoI on 22.09.2023, including an Earnest Money Deposit (EMD) of Rs. 5,00,000. The final list of PRAs was issued on 30.09.2023, with Dhanadeep listed at serial No. 8. Access to the data room was granted to Dhanadeep on 27.10.2023, which they claimed was delayed.
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XL Energy Limited was…
Form-G inviting…
The case involves an application (IA (IBC)/1924/2023) filed in connection with a Corporate Insolvency Resolution Process (CIRP) initiated against XL Energy Limited. The applicant, Dhanadeep Consultants Pvt. Ltd., sought directives from the NCLT to compel the Resolution Professional and Committee of Creditors (CoC) to accept their resolution plan, condone delays in its submission, and call a CoC meeting for its consideration. The application arose because the applicant faced delays in accessing the data room, which they claimed hindered their ability to formulate a compliant resolution plan within the stipulated timeframe. The Financial Creditor, Invent Assets Securitization and Reconstruction Pvt. Ltd., had initiated the CIRP under Section 7 of the Insolvency and
…On 27.03.2023, XL Energy Limited was admitted into Corporate Insolvency Resolution Process (CIRP) following an application under Section 7 of the Insolvency and Bankruptcy Code, 2016, by Invent Assets Securitization and Reconstruction Pvt. Ltd. Dhanadeep Consultants Pvt. Ltd. submitted an Expression of Interest (EoI) and was listed as a Prospective Resolution Applicant (PRA). The Resolution Professional published Form-G on 08.09.2023, setting 22.09.2023 as the deadline for EoI submission. Dhanadeep submitted its EoI on 22.09.2023, including an Earnest Money Deposit (EMD) of Rs. 5,00,000. The final list of PRAs was issued on 30.09.2023, with Dhanadeep listed at serial No. 8. Access to the data room was granted to Dhanadeep on 27.10.2023, which they claimed was delayed.
…XL Energy Limited was…
Form-G inviting…