2020 (6) TMI 756

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..... mar Jain And Ms. Shreesha Merla, JJ. For Appellant: Ms. Shashi Panwar, Advocates. For Respondents: Mr. Haribabu Thota, Resolution Professional (R-3). Mr. K. Dushyantha Kumar, Liquidator (R-4) ORDER Though we are not convinced that the cause assigned is a sufficient cause warranting restoration of dismissed appeal to file, in view of the circumstances of the case viz. the appeal being pr .....

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..... rporate Insolvency Resolution Process had already been initiated by 'M/s VSL Securities Pvt. Ltd.'. It is further submitted that 'M/s Altico Capital India Ltd.' did not fall within the definition of 'Financial Creditor' and objection in this regard had been raised before the Interim Resolution Professional when claim was filed by 'M/s Altico Capital India Ltd.' before the Interim Resolution Profes .....

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..... o liquidation. It further appears that no Resolution Plan was forthcoming within the prescribed timelines as the liquidation cost was not ascertainable and available liquid assets were only of the value of Rs. 29,60,000/- whereas total claims received against the Corporate Debtor were for Rs. 2,35,72,27,259/-. The Committee of Creditors finding no other option available recommended initiation .....

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