The case involves an Interlocutory Application (I.A. No. 4764 of 2025) filed by Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited (Corporate Debtor), seeking rejection of the Resolution Plan approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Asset Care & Reconstruction Limited (ACRE), a Financial Creditor.
Interlocutory Application No. 4764 of 2025 was filed by Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited.
The CIRP was initiated based on an application by Asset Care & Reconstruction Limited (ACRE), a Financial Creditor.
The Applicants sought rejection of the Resolution Plan dated July 10, 2025, of Consortium of Oberoi Realty Limited, Shree Naman Developers Private Limited and JM Financial Properties and Holdings Limited.
The Applicants alleged inflated and time-barred claims, undervaluation of assets, and conflict of interest.
The Resolution Plan was approved by the CoC with 100% vote on July 14, 2025.
The Applicants submitted a settlement proposal under Section 12A of the IBC, offering to pay 100% of the crystallized lawful debt.
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Filing of C.P.…
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The case involves an Interlocutory Application (I.A. No. 4764 of 2025) filed by Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited (Corporate Debtor), seeking rejection of the Resolution Plan approved by the Committee of Creditors (CoC). The Corporate Insolvency Resolution Process (CIRP) was initiated based on an application by Asset Care & Reconstruction Limited (ACRE), a Financial Creditor.
Interlocutory Application No. 4764 of 2025 was filed by Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited.
The CIRP was initiated based on an application by Asset Care & Reconstruction Limited (ACRE), a Financial Creditor.
The Applicants sought rejection of the Resolution Plan dated July 10, 2025, of Consortium of Oberoi Realty Limited, Shree Naman Developers Private Limited and JM Financial Properties and Holdings Limited.
The Applicants alleged inflated and time-barred claims, undervaluation of assets, and conflict of interest.
The Resolution Plan was approved by the CoC with 100% vote on July 14, 2025.
The Applicants submitted a settlement proposal under Section 12A of the IBC, offering to pay 100% of the crystallized lawful debt.
…Filing of C.P.…
Filing of IA…