The present application, I.A No. 6381/2023 in C.P. (IB) No. 2628/(ND)/2019, was filed by the authorized representative of 49 workmen/employees of M/s Saraya Industries Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 11 of the NCLT Rules, 2016, seeking condonation of delay in filing claims and directing the Interim Resolution Professional to accept their claims.
CIRP against Saraya Industries was admitted on 17 May 2022, and an IRP was appointed.
The applicants were employed as workers of the Corporate Debtor and continued their employment until August 2022.
The applicants submitted their claim to the Resolution Professional on 31.11.2023.
The IRP rejected the claim vide E-Mail dated 03.11.2023 on the ground that it was filed after the deadline of May 31, 2022, and beyond the 90-day period permitted under Regulation 12(2).
The Committee of Creditors (CoC) approved a resolution plan on July 11, 2023.
The last date for submission of claim was 31.05.2022 and the Resolution Plan has been approved by the Committee of Creditors on 11.07.2023.
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The present application, I.A No. 6381/2023 in C.P. (IB) No. 2628/(ND)/2019, was filed by the authorized representative of 49 workmen/employees of M/s Saraya Industries Ltd. under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC), read with Rule 11 of the NCLT Rules, 2016, seeking condonation of delay in filing claims and directing the Interim Resolution Professional to accept their claims.
CIRP against Saraya Industries was admitted on 17 May 2022, and an IRP was appointed.
The applicants were employed as workers of the Corporate Debtor and continued their employment until August 2022.
The applicants submitted their claim to the Resolution Professional on 31.11.2023.
The IRP rejected the claim vide E-Mail dated 03.11.2023 on the ground that it was filed after the deadline of May 31, 2022, and beyond the 90-day period permitted under Regulation 12(2).
The Committee of Creditors (CoC) approved a resolution plan on July 11, 2023.
The last date for submission of claim was 31.05.2022 and the Resolution Plan has been approved by the Committee of Creditors on 11.07.2023.
CIRP against…
Public announce…