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IBC - Highlights / Catch Notes

Home Highlights January 2024 Year 2024 This

Scope of Approval of resolution plan - Allegations of ...

Insolvency and Bankruptcy

January 13, 2024

Scope of Approval of resolution plan - Allegations of undervaluation of the Corporate Debtor's assets. - Appellant's Locus to Challenge

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  1. Approval of resolution plan - during the CIRP of ACIL, no valuer was appointed to determine the fair value of the shares held by the the Corporate Debtor. Therefore, the...

  2. Validity of approval of resolution plan of corporate debtor - the Resolution plan as approved by the CoC using its commercial wisdom and subsequent approval by the...

  3. Initiation of CIRP - Guarantor - Extinguishment of debt - The NCLAT upheld the NCLT's decision, finding that ECL did not act as a guarantor for ESL's debts based on the...

  4. Locus Standi of shareholder of the Corporate Debtor to challenge the Resolution Plan - Seeking for forensic audit of the Books of Accounts of the Corporate Debtor, and...

  5. CIRP - Physical inspection of plant and machinery of the Corporate Debtor - After approval of the Resolution Plan, Monitoring Committee under the statutory scheme is to...

  6. Approval of Resolution Plan - whether the Appellant is secured creditor of the Corporate Debtor or not? - The Tribunal noted that the appellant based their claim on...

  7. Immunity to corporate debtors and their assets, upon approval of a resolution plan - jurisdiction of NCLT to release the attached properties by invoking Section 32A of...

  8. Approval of the resolution plan - ascertaining the liquidation value of the Corporate Debtor - The Appellant did not raise any objection regarding assessment of the...

  9. Eligibility of ex-promoter/Corporate Debtor u/s 29A read with Section 240A of the IBC to submit a resolution plan claiming the benefits of MSME - rejection of Resolution...

  10. Seeking approval of the Resolution Plan - The Resolution Applicant cannot be saddled with any previous claim against the Corporate Debtor prior to initiation of its CIRP....

  11. Dishonour of Cheque - Continuation of proceedings during moratorium period - vicarious liability of director - proceedings under Section 138 or 141 of the NI Act -...

  12. Refusal to entertain the belated claims of Homebuyers as Financial Creditors of the Corporate Debtor - The argument of the Respondents that since CoC has approved the...

  13. Fresh claim after approval of resolution plan - Arrears against the Corporate Debtor/Applicant - As soon as the Order approving the Resolution Plan was passed by this...

  14. Approval of Resolution Plan - Scope of the remand back proceedings - The Adjudicating Authority on 06.09.2022 while disposing off application u/s 30(6) allowed the...

  15. Recovery of excise duty, which got extinguished on approval of resolution plan - Section 31(1) of the IBC, 2016 mandates that the resolution plan approved by the NCLT...

 

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