2020 (11) TMI 1046 - Tri - Insolvency and Bankruptcy

Seeking dismissal of approved Resolution Plan, which was approved on 5th October, 2020 - HELD THAT - It is noted that after the approval of the Resolution Plan, this Authority has no power to dismiss the approved Resolution Plan. The only course open to the Applicant is to file an Appeal under Section 61 of the Code. Application dismissed.

Summary

The Tribunal dismissed the application seeking to dismiss an approved Resolution Plan, stating that it has no power to do so after approval. The applicant was advised to file an appeal under Section 61 of the Code instead.