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NATIONAL COMPANY LAW TRIBUNAL
Sh. Prabhat Kumar, Member (Technical), Sh. V.G Bisht, Member (Judicial)
Jitendra Palande – Appellant
Versus
Mudra Lifespaces Pvt. Ltd – Respondent
| Table of Content |
|---|
| 1. court acknowledged the initiation of ppirp due to debt defaults and necessary actions taken. (Para 1 , 4 , 5) |
| 2. details were provided about the corporate debtor's identity and operational credit circumstances. (Para 2 , 3 , 6) |
| 3. board meetings and decisions surrounding the resolution plans reflect cooperative creditor dynamics. (Para 7 , 8 , 9) |
| 4. comprehensive analysis of the resolution plan demonstrates adherence to legal requirements. (Para 10) |
ORDER
1. The present petition is filed Mr. Jitendra Palande (“Resolution Professional/RP/Applicant”) u/s. 54K (12) of the Insolvency and Bankruptcy Code, 2016 (“Code”) r/w Regulation 49(1) Of Insolvency and Bankruptcy Board of India Regulations, 2021 ) (“IBBI Rules”) seeking approval of Resolution Plan under Pre-Packed Insolvency Resolution Process (“PPIRP”) that has been approved with 100% voting share by the Committee of Creditors (“CoC”) with respect to Mudraa Lifespaces Private Limited (“Corporate Debtor”).
Particulars of the parties:
2. The Applicant, Mr. Jitendra Palande is the Resolution Professional of the Corporate Debtor, having registered office address at 411 Fourth Floor, Kakade Bizz Icon, Next to E-square, Shi
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