UCO Bank filed an application (I.A.) seeking direction for the Resolution Professional to accept its claim. The Adjudicating Authority admitted Zenith Finesee (India) Private Limited into Corporate Insolvency Resolution Process (CIRP) on November 20, 2019, following a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional published a notice calling for claims, but UCO Bank claimed lack of awareness and thus failed to file its claim within the stipulated time. UCO Bank filed Form C after becoming aware of the CIRP, but the Resolution Professional stated that the claim could not be accepted without condoning the delay.
On November 20, 2019, Zenith Finesee (India) Private Limited was admitted into CIRP following a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional issued a public announcement on November 25, 2019, calling for claims from creditors. UCO Bank claimed it was unaware of the notice and failed to file its claim within the stipulated time. UCO Bank filed Form C on March 25, 2022, seeking to submit a claim of Rs.6,30,87,022 based on a guarantee provided by the Corporate Debtor. The CIRP period had ended, and a Resolution Plan had been approved by the CoC. UCO Bank filed an application seeking condonation of delay and direction to the Resolution Professional to accept its claim. The delay in filing the claim was
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UCO Bank filed an application (I.A.) seeking direction for the Resolution Professional to accept its claim. The Adjudicating Authority admitted Zenith Finesee (India) Private Limited into Corporate Insolvency Resolution Process (CIRP) on November 20, 2019, following a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional published a notice calling for claims, but UCO Bank claimed lack of awareness and thus failed to file its claim within the stipulated time. UCO Bank filed Form C after becoming aware of the CIRP, but the Resolution Professional stated that the claim could not be accepted without condoning the delay.
On November 20, 2019, Zenith Finesee (India) Private Limited was admitted into CIRP following a petition under Section 7 of the Insolvency and Bankruptcy Code, 2016. The Interim Resolution Professional issued a public announcement on November 25, 2019, calling for claims from creditors. UCO Bank claimed it was unaware of the notice and failed to file its claim within the stipulated time. UCO Bank filed Form C on March 25, 2022, seeking to submit a claim of Rs.6,30,87,022 based on a guarantee provided by the Corporate Debtor. The CIRP period had ended, and a Resolution Plan had been approved by the CoC. UCO Bank filed an application seeking condonation of delay and direction to the Resolution Professional to accept its claim. The delay in filing the claim was
…Zenith Finesee (India) Private Limited was…
Interim Resolution Professional made a…