The application IA 4589 of 2025 was filed by Pan India Consultants Private Limited in the CIRP of Frost International Limited, seeking a direction regarding the Participating Interest (PI) of the Corporate Debtor in an Oil Block. The applicant sought to exclude the PI from the Corporate Debtor's assets and direct the Resolution Professional to offer the PI to the Applicant.
The application IA 4589 of 2025 was filed on 4.9.2025 by Pan India Consultants Private Limited in the CIRP of Frost International Limited.
The CIRP commenced on February 9, 2023, pursuant to an order passed by the Tribunal u/s 7 of the Code on an application filed by Bank of India.
The Applicant and the Corporate Debtor hold Participating Interest (“PI”) in the Oil Block in the ratio as specified in Article 3 of the JOA, being 20% and 80%, respectively, at the time of award.
The applicant sought to exclude the PI from the Corporate Debtor's assets and direct the Resolution Professional to offer the PI to the Applicant.
The CoC approved a resolution plan under Option I (Corporate Debtor as a whole) with the requisite majority on November 3, 2025.
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CIRP commenced pursuant to order passed by…
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The application IA 4589 of 2025 was filed by Pan India Consultants Private Limited in the CIRP of Frost International Limited, seeking a direction regarding the Participating Interest (PI) of the Corporate Debtor in an Oil Block. The applicant sought to exclude the PI from the Corporate Debtor's assets and direct the Resolution Professional to offer the PI to the Applicant.
The application IA 4589 of 2025 was filed on 4.9.2025 by Pan India Consultants Private Limited in the CIRP of Frost International Limited.
The CIRP commenced on February 9, 2023, pursuant to an order passed by the Tribunal u/s 7 of the Code on an application filed by Bank of India.
The Applicant and the Corporate Debtor hold Participating Interest (“PI”) in the Oil Block in the ratio as specified in Article 3 of the JOA, being 20% and 80%, respectively, at the time of award.
The applicant sought to exclude the PI from the Corporate Debtor's assets and direct the Resolution Professional to offer the PI to the Applicant.
The CoC approved a resolution plan under Option I (Corporate Debtor as a whole) with the requisite majority on November 3, 2025.
…CIRP commenced pursuant to order passed by…
The RP had issued Form…