Orissa Metaliks Private Limited (OMPL) filed an Interlocutory Application (IA No. 4320/2025) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, challenging the decision of the Committee of Creditors (CoC) to conduct a second negotiation process via an e-challenge mechanism for Cluster 3 assets of Future Enterprises Limited, the Corporate Debtor.
Foresight Innovations Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Future Enterprises Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, with the process commencing on 27.02.2023.
The Committee of Creditors (CoC) was constituted on 22.05.2023, comprising 18 members including Axis Bank Limited, Bank of Baroda, and Central Bank of India.
The CoC appointed Mr. Avil Menezes as the Resolution Professional (RP) on 22.06.2023.
The CoC decided to run a parallel process for inviting expression of interests for submitting resolution plans for the assets of the corporate debtor.
The assets of the Corporate Debtor were divided into three clusters.
…Sign in to view the parties.
Corporate Insolvency…
The Committ…
Orissa Metaliks Private Limited (OMPL) filed an Interlocutory Application (IA No. 4320/2025) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, challenging the decision of the Committee of Creditors (CoC) to conduct a second negotiation process via an e-challenge mechanism for Cluster 3 assets of Future Enterprises Limited, the Corporate Debtor.
Foresight Innovations Private Limited initiated Corporate Insolvency Resolution Process (CIRP) against Future Enterprises Limited under Section 9 of the Insolvency and Bankruptcy Code, 2016, with the process commencing on 27.02.2023.
The Committee of Creditors (CoC) was constituted on 22.05.2023, comprising 18 members including Axis Bank Limited, Bank of Baroda, and Central Bank of India.
The CoC appointed Mr. Avil Menezes as the Resolution Professional (RP) on 22.06.2023.
The CoC decided to run a parallel process for inviting expression of interests for submitting resolution plans for the assets of the corporate debtor.
The assets of the Corporate Debtor were divided into three clusters.
…Corporate Insolvency…
The Committ…