The case involves an application filed by Unimark Remedies Limited (Applicant/Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions against Notified Area Authority GIDC, Vapi (Respondent No. 1) for restoration of essential services, namely, water supply and drainage connection.
ICICI Bank Limited, a financial creditor, initiated CIRP against Unimark Remedies Limited.
The CIRP was admitted on 03.04.2018, and Mr. Amit Gupta was appointed as the Interim Resolution Professional.
A resolution plan submitted by a Consortium was approved by the Committee of Creditors (CoC) on 24.12.2018.
The Tribunal approved the Resolution Plan on 17.04.2023.
The Applicant paid Rs.8,89,043/- towards bills raised post the Plan Approval Order and Rs.1,43,525/- for dues accruing after the Plan Approval Order.
The RP paid Rs.26,81,605/- on 21.08.2023 to Respondent No. 1 for restoration of water connection at Plot No. 59, covering dues from 03.04.2018 to 17.04.2023.
Respondent No. 1 demanded payment of pre-CIRP dues as a condition for the restoration of services.
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CIRP initiated against Unimark Remedies…
Resolution Plan…
The case involves an application filed by Unimark Remedies Limited (Applicant/Corporate Debtor) under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking directions against Notified Area Authority GIDC, Vapi (Respondent No. 1) for restoration of essential services, namely, water supply and drainage connection.
ICICI Bank Limited, a financial creditor, initiated CIRP against Unimark Remedies Limited.
The CIRP was admitted on 03.04.2018, and Mr. Amit Gupta was appointed as the Interim Resolution Professional.
A resolution plan submitted by a Consortium was approved by the Committee of Creditors (CoC) on 24.12.2018.
The Tribunal approved the Resolution Plan on 17.04.2023.
The Applicant paid Rs.8,89,043/- towards bills raised post the Plan Approval Order and Rs.1,43,525/- for dues accruing after the Plan Approval Order.
The RP paid Rs.26,81,605/- on 21.08.2023 to Respondent No. 1 for restoration of water connection at Plot No. 59, covering dues from 03.04.2018 to 17.04.2023.
Respondent No. 1 demanded payment of pre-CIRP dues as a condition for the restoration of services.
…CIRP initiated against Unimark Remedies…
Resolution Plan…