Dolphin Offshore Shipping IRP Asks Creditors To File Claims

Dolphin Offshore Shipping Ltd.’s interim resolution professional (IRP) asked the company’s creditors to submit their claim details.

The creditors must submit their claims along with proof by 25 July, IRP Kedar Somnath Pande said in a public announcement. The email to be used for correspondence is dolphincirp@gmail.com, he added.

The development came after the Mumbai bench of the National Company Law Tribunal (NCLT) last week admitted Dolphin Offshore for insolvency resolution and appointed Pande as IRP for the company.

Dolphin Offshore was dragged into insolvency by its operational creditor AHM Catering and Allied Services Private Ltd. after the company failed to pay the settlement amount of 21.40 lakh rupees ($26,040) on 26 February 2019, the NCLT order showed.

AHM Catering, which provided catering services to Dolphin Offshore, had initially filed the petition in 2018, seeking 43.21 lakh rupees from the company, according to the order.

“The amount outstanding is above one lakh rupees and since the present petition was filed before the amendment increasing threshold limit, the present petition is in compliance with section 4(1) of Insolvency and Bankruptcy Code 2016,” the NCLT remarked.

Pande, in the public announcement, said the NCLT pronounced the verdict on 6 July, but he came to know about the order on 11 July.

The company’s insolvency resolution process is likely to be completed by 2 January 2024, according to the announcement.

Dolphin Offshore is a subsidiary of Dolphin Offshore Enterprises India Ltd. and responsible for all marine activities of its parent, according to its website.

The company provides services such as offshore vessels and tugs for operations in port and Mumbai high, supply of materials and manpower for ongoing offshore projects by company hired vessels and logistic support to Dolphin Offshore Enterprises’ chartered vessels, it said.

Note: $1 = 82.1814 Indian rupees

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