This is an appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016, against the order dated 12.03.2020 passed by the National Company Law Appellate Tribunal (NCLAT), New Delhi, in Company Appeal (AT) (Insolvency) No.139 of 2018. The NCLAT had observed that a resolution for approval of a Settlement Proposal under Section 12A of the I&B Code was rejected by the Committee of Creditors (CoC) with 99.68% votes. The Resolution Plan submitted by ‘APSEZL’ was approved by the members of the 'Committee of Creditors' with 99.68% votes.
The appellant, Vishal Vijay Kalantri, filed an appeal against an order passed by the NCLAT. The NCLAT order related to a Company Appeal (AT) (Insolvency) No.139 of 2018. The core issue was the rejection of a settlement proposal under Section 12A of the Insolvency and Bankruptcy Code (I&B Code) by the Committee of Creditors (CoC) with a 99.68% vote. A resolution plan submitted by ‘APSEZL’ was approved by the CoC with 99.68% votes. A notice invoking arbitration was issued on 29.07.2016 by respondent no.1 in relation to Contract No.2. A notice was also issued on 23.03.2017 invoking arbitration in relation to Contract No.1. Consent Terms dated 29.03.2017 were entered into, but they failed. The Adjudicating Authority admitted the petition under Section 9 of the I.B.
…Sign in to view the parties.
Respondent no.1 issued…
An application under Section 11(6) of the…
This is an appeal under Section 62 of the Insolvency and Bankruptcy Code, 2016, against the order dated 12.03.2020 passed by the National Company Law Appellate Tribunal (NCLAT), New Delhi, in Company Appeal (AT) (Insolvency) No.139 of 2018. The NCLAT had observed that a resolution for approval of a Settlement Proposal under Section 12A of the I&B Code was rejected by the Committee of Creditors (CoC) with 99.68% votes. The Resolution Plan submitted by ‘APSEZL’ was approved by the members of the 'Committee of Creditors' with 99.68% votes.
The appellant, Vishal Vijay Kalantri, filed an appeal against an order passed by the NCLAT. The NCLAT order related to a Company Appeal (AT) (Insolvency) No.139 of 2018. The core issue was the rejection of a settlement proposal under Section 12A of the Insolvency and Bankruptcy Code (I&B Code) by the Committee of Creditors (CoC) with a 99.68% vote. A resolution plan submitted by ‘APSEZL’ was approved by the CoC with 99.68% votes. A notice invoking arbitration was issued on 29.07.2016 by respondent no.1 in relation to Contract No.2. A notice was also issued on 23.03.2017 invoking arbitration in relation to Contract No.1. Consent Terms dated 29.03.2017 were entered into, but they failed. The Adjudicating Authority admitted the petition under Section 9 of the I.B.
…Respondent no.1 issued…
An application under Section 11(6) of the…