Tribunals and CommissionsDivision Bench(2020) 12 NCLT CK 0189

Ajay Babulal Shah And Ors. vs Siddharth Milk Food (India) Private Limited

National Company Law Tribunal · Decided on 18 December 2020

HON’BLE JUDGES
Janab Mohammed Ajmal, J · V. Nallasenapathy, Member (Technical)
RESULT
Allowed
CASE NUMBER
Interlocutory Appeal No. 2048 Of 2020 In Company Petition (IB) No. 3505/MB Of 2018

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Judgment

100 paragraphs · 172 words

Original Schedule,,Revised Schedule,

Issuance of NCDs

to secured

Financial Creditors","90 days

from the

Effective

Date","Issuance of NCDs

to secured

Financial Creditors","150 days

from the

Effective

Date

Appointment of

New Directors","90 days

from the

Effective

Date","Issuance of NCDs

to secured

Financial Creditors","150 days

from the

Effective

Date

Arrangement of

working capital

facility of Rs. 5.00

Crore","90 days

from the

Effective

Date","Arrangement of

working capital

Facility of Rs. 5.00

Crore","180 days

from the

Effective

Date

Issuance of fresh

Equity","90 days

from the

Effective

Date","Issuance of fresh

Equity","120 days

from the

Effective

Date

· Re-

constitution

of Board of

Directors

· Setting up

of

management

team and

control

systems

·

Completion

of

Definitive

Documents

·

Identification

of

contractors

and execution

of

documents","3 Months

from

Closing

Date","· Re-

constitution

of Board of

Directors

· Setting up

of

management

team and

control

systems

·

Completion

of

Definitive

Documents

·

Identification

of

contractors

and execution

of

documents","6 months

from

Closing

Date

Restarting the

factory of the

Corporate Debtor","4th Month

onwards","Restarting the

factory of the

Corporate Debtor","9th month

onwards