The Operational Creditor, Hukum Chand Gupta Fabrics Pvt. Ltd., filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the CIRP of Bee K Bee Prints Private Limited.
Hukum Chand Gupta Fabrics Pvt. Ltd., an Operational Creditor, filed a claim of ₹14,77,87,746, of which ₹9,18,11,557 was provisionally admitted.
The Applicant participated in the CoC meetings as an Operational Creditor and also submitted a Resolution Plan, which was later withdrawn.
The Resolution Professional (RP) filed applications under Section 66 of IBC, 2016, to identify fraudulent transactions.
The Applicant alleges that the Information Memorandum (IM) prepared by the RP is deficient and that assets worth Rs. 65.67 crore have not been mentioned.
The Applicant claims that the Resolution Plan submitted by Urbtech Finvest Pvt. Ltd. offers a mere 0.001% recovery to the Operational Creditors, violating Section 30(2)(b) of the IBC.
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Order delivered by the NCLT, New Delhi Bench,…
The matter sh…
The Operational Creditor, Hukum Chand Gupta Fabrics Pvt. Ltd., filed an application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, seeking reliefs related to the CIRP of Bee K Bee Prints Private Limited.
Hukum Chand Gupta Fabrics Pvt. Ltd., an Operational Creditor, filed a claim of ₹14,77,87,746, of which ₹9,18,11,557 was provisionally admitted.
The Applicant participated in the CoC meetings as an Operational Creditor and also submitted a Resolution Plan, which was later withdrawn.
The Resolution Professional (RP) filed applications under Section 66 of IBC, 2016, to identify fraudulent transactions.
The Applicant alleges that the Information Memorandum (IM) prepared by the RP is deficient and that assets worth Rs. 65.67 crore have not been mentioned.
The Applicant claims that the Resolution Plan submitted by Urbtech Finvest Pvt. Ltd. offers a mere 0.001% recovery to the Operational Creditors, violating Section 30(2)(b) of the IBC.
…Order delivered by the NCLT, New Delhi Bench,…
The matter sh…