The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd. with a 74.41% voting share, as per its order dated September 4, 2019. This plan was approved under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, and was binding on the Corporate Debtor, its employees, members, creditors, guarantors, the Central Government, any State Government, and other stakeholders. The resolution plan included security expenses incurred by the Financial Creditor/West Bengal Industrial Development Corporation (WBIDCL), which was admitted by the Resolution Professional (RP) in the upfront amount payable to the creditors. The NCLAT affirmed the NCLT's order. The appellant raised no substantial question of law.
The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd., which was approved by the Committee of Creditors (CoC) with a 74.41% voting share. This approval was under Section 31(1) of the Insolvency and Bankruptcy Code, 2016. The plan was binding on the Corporate Debtor, Ramsarup Industries Limited, and its stakeholders. The resolution plan included security expenses incurred by the Financial Creditor/West Bengal Industrial Development Corporation (WBIDCL). The National Company Law Appellate Tribunal (NCLAT) affirmed the NCLT's order. S S Natural Resources Private Limited filed an appeal against the NCLAT's order, but the Supreme Court dismissed the appeal, finding no substantial question of law. The court also considered other
…Sign in to view the parties.
The National Company Law Tribunal (NCLT)…
NCLAT order in Company…
The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd. with a 74.41% voting share, as per its order dated September 4, 2019. This plan was approved under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, and was binding on the Corporate Debtor, its employees, members, creditors, guarantors, the Central Government, any State Government, and other stakeholders. The resolution plan included security expenses incurred by the Financial Creditor/West Bengal Industrial Development Corporation (WBIDCL), which was admitted by the Resolution Professional (RP) in the upfront amount payable to the creditors. The NCLAT affirmed the NCLT's order. The appellant raised no substantial question of law.
The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd., which was approved by the Committee of Creditors (CoC) with a 74.41% voting share. This approval was under Section 31(1) of the Insolvency and Bankruptcy Code, 2016. The plan was binding on the Corporate Debtor, Ramsarup Industries Limited, and its stakeholders. The resolution plan included security expenses incurred by the Financial Creditor/West Bengal Industrial Development Corporation (WBIDCL). The National Company Law Appellate Tribunal (NCLAT) affirmed the NCLT's order. S S Natural Resources Private Limited filed an appeal against the NCLAT's order, but the Supreme Court dismissed the appeal, finding no substantial question of law. The court also considered other
…The National Company Law Tribunal (NCLT)…
NCLAT order in Company…