2021 (9) TMI 1356 - SCH - Insolvency and Bankruptcy

Approval of Resolution plan - Whether a third party company can be dealt with in a Resolution Plan under corporate insolvency resolution process against the Corporate Debtor? - it was held that There are no substance based on which it can be inferred that the Resolution Plan is not in conformity with the provisions of Code as provided under Sec 30(2) of the Insolvency and Bankruptcy Code 2016. HELD THAT - There are nothing to interfere with the impugned order. The Civil Appeals stand dismissed.

Summary

The Supreme Court of India dismissed Civil Appeals challenging judgments passed by the National Company Law Appellate Tribunal in 2020. The appeals were filed by the Petitioner and Respondent, represented by various Senior Counsels. The Court declined to interfere with the impugned judgments and dismissed the appeals.