Arvensis Energy Private Limited Vs Lakshmi Transcon Private Limited (NCLT Hyderabad)
1. IA No. 411/2022 is filed by the Resolution Professional under Section 30(6) & 31 of IBC, 2016 r/w regulation 39(4) of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 & Rule 11 of NCLT Rules, 2016, seeking approval of the resolution plan submitted by Owk Madhu Manohara Rao (Resolution Applicant) as duly approved by the Committee of Creditors with 100% votes in respect of the Corporate Debtor i.e. Lakshmi Transcon Private Limited.
2. To put precisely this Tribunal admitted the Company Petition bearing No. 189/9/HDB/202, filed by the Operational Creditor, M/s Arvensis Energy Private Limited U/S 9 of the Insolvency & Bankruptcy Code R/W Rule 6 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules on 08.03.2022 wherein Mr Suresh VS with IP Reg No. IBBI Reg No: IBBI/IPA-002/IP-N00500/2017-2018/11616 was appointed as the Interim Resolution Professional. It is further stated that the IRP gained knowledge of the said Order and his appointment as the IRP on 02.06.2022 [after a delay of 86 Days] after receiving an email from the advocate of the Operational Creditor
NCLT HYD BENCH-1 IA No. 411 of 2023 In CP (IB) NO. 189/9/HDB/2021 DOO: 07.07.2023 3
and on 03.06.2022 the IRP collected the certified copy of the order and commenced the CIRP process with following timelines:
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