UCO Bank, as a Financial Creditor, filed an application against Fortune Chemicals Limited (Respondent No. 1) and Mr. Samya Sengupta, Resolution Professional of Dooteriah & Kalej Valley Tea Estates Private Limited (Respondent No. 2), seeking reliefs under Section 33(3) and 60(5) of the Insolvency and Bankruptcy Code, 2016.
Corporate Debtor was admitted to CIRP on 12th December, 2017.
Mr. Samya Sengupta was appointed as the Resolution Professional of the Corporate Debtor.
Respondent no. 1 submitted a Resolution Plan dated 10th August, 2018, which was approved by the COC with 100% approval.
The total outstanding dues to the Applicant (UCO Bank) was Rs. 15.69 crores as on the CIRP commencement date and Rs. 1.51 crore on account of interest accrued after initiation of CIRP.
Respondent No. 1 was supposed to pay a sum of Rs. 1.5 crores within 90 days from approval of the Resolution Plan, but failed to do so.
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Corporate Debtor…
Respondent…
UCO Bank, as a Financial Creditor, filed an application against Fortune Chemicals Limited (Respondent No. 1) and Mr. Samya Sengupta, Resolution Professional of Dooteriah & Kalej Valley Tea Estates Private Limited (Respondent No. 2), seeking reliefs under Section 33(3) and 60(5) of the Insolvency and Bankruptcy Code, 2016.
Corporate Debtor was admitted to CIRP on 12th December, 2017.
Mr. Samya Sengupta was appointed as the Resolution Professional of the Corporate Debtor.
Respondent no. 1 submitted a Resolution Plan dated 10th August, 2018, which was approved by the COC with 100% approval.
The total outstanding dues to the Applicant (UCO Bank) was Rs. 15.69 crores as on the CIRP commencement date and Rs. 1.51 crore on account of interest accrued after initiation of CIRP.
Respondent No. 1 was supposed to pay a sum of Rs. 1.5 crores within 90 days from approval of the Resolution Plan, but failed to do so.
…Corporate Debtor…
Respondent…