The case involves an Interlocutory Application (I.A. No. 3029 of 2025) filed by Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited (Corporate Debtor), in the ongoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated by Asset Care & Reconstruction Limited (ACRA), a Financial Creditor.
Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited, filed an Interlocutory Application (I.A. No. 3029 of 2025) challenging the CIRP process.
Asset Care & Reconstruction Limited (ACRA) initiated the CIRP against Horizon Private Limited.
The applicants alleged deficiencies in the Information Memorandum (IM) issued by the Resolution Professional (RP).
The applicants sought a stay on the challenge process, withdrawal of the existing Form G, and consideration of a part-asset resolution process.
The Resolution Professional (RP) and the Committee of Creditors (CoC) opposed the application, stating that the IM was prepared based on available information and that the applicants were non-cooperative.
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The present Application…
Listed for the first time on July 8, 2025, a…
The case involves an Interlocutory Application (I.A. No. 3029 of 2025) filed by Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited (Corporate Debtor), in the ongoing Corporate Insolvency Resolution Process (CIRP). The CIRP was initiated by Asset Care & Reconstruction Limited (ACRA), a Financial Creditor.
Sagar Sharma & Anr., suspended directors/promoters of Horizon Private Limited, filed an Interlocutory Application (I.A. No. 3029 of 2025) challenging the CIRP process.
Asset Care & Reconstruction Limited (ACRA) initiated the CIRP against Horizon Private Limited.
The applicants alleged deficiencies in the Information Memorandum (IM) issued by the Resolution Professional (RP).
The applicants sought a stay on the challenge process, withdrawal of the existing Form G, and consideration of a part-asset resolution process.
The Resolution Professional (RP) and the Committee of Creditors (CoC) opposed the application, stating that the IM was prepared based on available information and that the applicants were non-cooperative.
…The present Application…
Listed for the first time on July 8, 2025, a…