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ARTICLE · 12 FEBRUARY 2019

Insolvency Of Binani Cement - A Case Study

NCLAT while deciding this case, summarized the object of the I&B Code and the Object of a Resolution Plan.

IndiaInsolvency/Bankruptcy/Re-Structuring

Insolvency and Bankruptcy Code, 2016

INSOLVENCY OF BINANI CEMENT - A CASE STUDY

IN THE NATIONAL COMPANY LAW APPELLATE TRIBUNAL, NEW DELHI

Binani Industries Limited VS.Bank Of Baroda And Anr.

[company appeal (at) (insolvency) no. 82 of 2018]dated: 14.11.2018

DETAIL OF APPEALS WITH NCLAT

In this case, following appeals were filed with the NCLAT:

Company Appeal No. 82, arising out of order dated 28th February, 2018, passed by NCLT, Kolkata

The NCLT referred the application back to the Resolution Professional (RP) to re-consider in accordance with the Rules and Regulations of the IBC.

This led Binani Cement Limited to prefer an appeal.

Company Appeal No. 123, arising out of order dated 27th March, 2018, passed by NCLT, Kolkata.

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