The case involves applications related to the liquidation process of Tecpro Systems Ltd. Edelweiss Asset Reconstruction Company Limited (EARCL) is the applicant/petitioner. The liquidator, Mr. Ramachandran Subramanian, filed an application (IA-4269/ND/2024) seeking directions and declarations regarding EARCL's status as a related party and its voting rights in the Stakeholders Consultation Committee (SCC).
Edelweiss Asset Reconstruction Company Limited (EARCL) is the applicant/petitioner.
Tecpro Systems Ltd. is the Corporate Debtor undergoing liquidation.
Mr. Ramachandran Subramanian is the Liquidator.
IA-4269/ND/2024 was filed by the liquidator seeking a declaration that EARCL is a related party and to restrain it from voting in the SCC.
EARCL disposed of certain properties of the Corporate Debtor under the SARFAESI Act, 2002.
EARCL remained a member of the CoC with 85.37% vote share during the CIRP.
The SCC passed a resolution to replace Mr. Ramachandran Subramanian with Mr. Anil Kohli as Liquidator.
The CIRP commenced on 07.08.2017, and liquidation commenced on 16.01.2020.
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The Corporate…
The liquidation…
The case involves applications related to the liquidation process of Tecpro Systems Ltd. Edelweiss Asset Reconstruction Company Limited (EARCL) is the applicant/petitioner. The liquidator, Mr. Ramachandran Subramanian, filed an application (IA-4269/ND/2024) seeking directions and declarations regarding EARCL's status as a related party and its voting rights in the Stakeholders Consultation Committee (SCC).
Edelweiss Asset Reconstruction Company Limited (EARCL) is the applicant/petitioner.
Tecpro Systems Ltd. is the Corporate Debtor undergoing liquidation.
Mr. Ramachandran Subramanian is the Liquidator.
IA-4269/ND/2024 was filed by the liquidator seeking a declaration that EARCL is a related party and to restrain it from voting in the SCC.
EARCL disposed of certain properties of the Corporate Debtor under the SARFAESI Act, 2002.
EARCL remained a member of the CoC with 85.37% vote share during the CIRP.
The SCC passed a resolution to replace Mr. Ramachandran Subramanian with Mr. Anil Kohli as Liquidator.
The CIRP commenced on 07.08.2017, and liquidation commenced on 16.01.2020.
The Corporate…
The liquidation…