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NATIONAL COMPANY LAW TRIBUNAL
Mohan P. Tiwari, J, Sanjeev Sharma, T
Commercial Tax Department – Appellant
Versus
M/s Indian Soya Industries Pvt Ltd – Respondent
| Table of Content |
|---|
| 1. details of applicant's claim and grounds for admission. (Para 1 , 2 , 6) |
| 2. arguments presented by the rp against the delay. (Para 10 , 12 , 19) |
| 3. overview of cirp initiation and applicant's rights. (Para 32 , 33 , 35) |
| 4. court's emphasis on timeliness and regulation adherence. (Para 40 , 43) |
| 5. final decision on the application. (Para 44) |
ORDER
1. This application has been filed by the Applicant under Section 60 (5) of the Insolvency and Bankruptcy Code, 2016 , read with Rule 11 of the National Company Law Tribunal Rules, 2016, seeking consideration of its claim to ensure the successful completion of the Corporate Insolvency Resolution Process (CIRP) for the Corporate Debtor. M/s Samunnati Agro Solutions Pvt. Ltd. had earlier initiated proceedings under Section 9 of the Code via CP (IB) 484/2019 | TP 49/2019, which this Tribunal admitted on 14.07.2020, appointing Mr. Mangesh Vithhal Kekre as the Interim Resolution Professional (continued as Resolution Professional), with a copy of the CIRP order annexed as Exhibit A/1.
2. The Respondent (Resolution Professional) issued a notice initiating the CIRP by publishing Form -A Public Announcement under Regulation 6 of the I
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