MOHAMMED ENTERPRISES (TANZANIA) LTD vs FAROOQ ALI KHAN & ORS
Автор: Lawyer Insta
Загружено: 2025-09-21
Просмотров: 21
Описание:
MOHAMMED ENTERPRISES (TANZANIA) LTD. ...APPELLANT(S)
VERSUS
FAROOQ ALI KHAN & ORS.
…RESPONDENT(S)
Corporate Insolvency Resolution Process (CIRP) was initiated against Associate Decor Ltd. at the behest of Oriental Bank of Commerce, with Mohammed Enterprises (Tanzania) Ltd. (METL) being eventually approved as the successful resolution applicant by full Committee of Creditors (CoC) consent in February 2020. Dissatisfied with the CoC decision, a suspended director filed for relief in the Karnataka High Court under Article 226, which initially stayed and eventually quashed the resolution plan, citing violation of natural justice due to inadequate notice for the CoC meeting. METL, the CoC, and the Resolution Professional appealed to the Supreme Court.
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