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CIRP of Corporate Debtor vitiated if illegally constituted committee of creditors took decisions at every stage of CIRP
Case Law Details
- Case Name
- Jayanta Banerjee Vs Shashi Agarwal (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Jayanta Banerjee Vs Shashi Agarwal (NCLAT Delhi)
In the instant case, we find that the IRP/RP had formed the Committee of Creditors based on the Financial Creditors’ submission of claims even without verification, despite that one of the financial creditors had explicitly requested to defer the e-voting on the resolution of the 5th CoC dated 5th December 2019, till the verification of voting percentage and compliance of CIRP process. The IRP/RP has formed the Committee of Creditors without admitting the claims of the Financial Creditors, which violate Regulation 12 (3) o...
