The case involves an application by RR Infralands Pvt. Ltd. seeking to treat funds disbursed to Sinnar Thermal Power Ltd. (STPL) as Insolvency Resolution Process (IRP) costs. Shapoorji Pallonji & Co. Pvt. Ltd. initiated CIRP against STPL. RR Infralands, a promoter-owned company, disbursed funds to STPL during the CIRP period when the IRP was restrained by an NCLAT order.
Shapoorji Pallonji & Co. Pvt. Ltd., an operational creditor, initiated CIRP against Sinnar Thermal Power Ltd. (STPL).
RR Infralands Pvt. Ltd., a promoter-owned company, disbursed Rs. 4,11,27,310 to STPL between 26.09.2022 and 19.01.2024.
The disbursements were made during a period when the IRP was restrained from taking further steps by an order of the NCLAT.
RR Infralands filed a claim as a financial creditor for Rs. 20,19,48,310, which was later admitted for Rs. 16,08,21,000.
The CoC rejected the approval of RRIPL Expenses.
The IRP was replaced by Mr. Rahul Jindal on 19.03.2024.
RR Infralands sought to have the disbursed amount treated as CIRP costs.
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Operational Creditor filed CP(IB) No.…
This Hon'ble Tribunal admitted the petition,…
The case involves an application by RR Infralands Pvt. Ltd. seeking to treat funds disbursed to Sinnar Thermal Power Ltd. (STPL) as Insolvency Resolution Process (IRP) costs. Shapoorji Pallonji & Co. Pvt. Ltd. initiated CIRP against STPL. RR Infralands, a promoter-owned company, disbursed funds to STPL during the CIRP period when the IRP was restrained by an NCLAT order.
Shapoorji Pallonji & Co. Pvt. Ltd., an operational creditor, initiated CIRP against Sinnar Thermal Power Ltd. (STPL).
RR Infralands Pvt. Ltd., a promoter-owned company, disbursed Rs. 4,11,27,310 to STPL between 26.09.2022 and 19.01.2024.
The disbursements were made during a period when the IRP was restrained from taking further steps by an order of the NCLAT.
RR Infralands filed a claim as a financial creditor for Rs. 20,19,48,310, which was later admitted for Rs. 16,08,21,000.
The CoC rejected the approval of RRIPL Expenses.
The IRP was replaced by Mr. Rahul Jindal on 19.03.2024.
RR Infralands sought to have the disbursed amount treated as CIRP costs.
Operational Creditor filed CP(IB) No.…
This Hon'ble Tribunal admitted the petition,…