Sponsored
    Follow Us:

Case Law Details

Case Name : Steel Strips Wheels Ltd. Vs Avil Menezes, Resolution Professional of AMW Autocomponent Ltd. & Ors. (NCLAT Delhi)
Appeal Number : Company Appeal (AT) (Insolvency) No. 89 of 2022
Date of Judgement/Order : 18/04/2022
Related Assessment Year :
Courts : NCLAT
Become a Premium member to Download. If you are already a Premium member, Login here to access.
Sponsored

Steel Strips Wheels Ltd. Vs Avil Menezes (NCLAT Delhi)

HELD THAT -The National Company Law Appellate Tribunal (NCLAT) has in the judgement dated April 18, 2022 (Judgement), in the matter of Steel Strips Wheels Limited. v. Shri Avil Menezes, Resolution Professional of AMW Autocomponent Limited and Others [Company Appeal (AT) (Insolvency) No. 89 of 2022] held that a fresh resolution plan cannot be considered by committee of creditors of AMW Autocomponent Limited (CoC).

BRIEF FACTS

1. The present appeal had been filed by the successful resolution applicant, that is, Steel Strips Wheels Limited (“Appellant”) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (“Code”) challenging the order dated January 18, 2022 (“Impugned Order”) wherein the National Company Law Tribunal, Ahmedabad, (“NCLT”) had allowed an application filed by Triton Electric Vehicle, LLC (“Respondent No. 3”) for consideration of its resolution plan Previously, by an order dated September 01, 2020.

2. The corporate insolvency resolution process (“CIRP”) was initiated against AMW Autocomponent Limited (“Corporate Debtor”).

Please become a Premium member. If you are already a Premium member, login here to access the full content.

Sponsored

Author Bio

A Qualified Company Secretary, LLB , AIII , Bsc( Maths) BHU, Certification in Insurance Risk Management ( ICSI-III) have completed Limited Insolvency Examination and having more than 20 years of experience in the field of Secretarial Practice, Project Finance, Direct Taxes ,GST, Accounts & F View Full Profile

My Published Posts

Court is required to ensure that prima facie a genuine arbitrable dispute exists NCLT cannot declare IBC, 2016 provisions/Regulations as illegal/Ultra Virus Burden lies on insurance company to prove that licence of driver was fake Directors receiving remuneration is employee under ESI Act: SC Director of Company can file defamation case for Defamatory publication: SC View More Published Posts

Join Taxguru’s Network for Latest updates on Income Tax, GST, Company Law, Corporate Laws and other related subjects.

Leave a Comment

Your email address will not be published. Required fields are marked *

Sponsored
Sponsored
Search Post by Date
July 2024
M T W T F S S
1234567
891011121314
15161718192021
22232425262728
293031