The Hyderabad bench of the National Company Law Tribunal ( NCLT ) held that the Comittee of Creditors ( CoCs ) can take decision to consolidate the Corporate Insolvency Resolution Process ( CIRP ).
The application has been filed by the suspended director of M/s. Manjeera Retail Holdings Private Limited ( MRHPL ),Gajjala Yoganand which, along with its holding company, Manjeera Constructions Limited ( MCL ), is undergoing the CIRP.
The Corporate Debtors were admitted into CIRP and the Resolution Plans approved by their respective Committees of Creditors ( CoC ) have been submitted by the common Resolution Professional ( RP ).
The applicant submitted that both companies have common assets and liabilities being inextricably intertwined…
