2024 (5) TMI 381 - SCH - Insolvency and Bankruptcy

Validity of Resolution Plan - classification as made in Resolution Plan between payment to employees, is discriminatory and violative of provisions of Section 30, sub- section (2) of the Code or not - it was held by NCLAT that The distribution to the employees, whose liquidation value was NIL falls within the commercial wisdom of the CoC and the said clause of Resolution Plan cannot be impugned on the said ground, nor the said proposal for payment is violative of Section 30, sub-section (2) (b) of the Code. HELD THAT - There are no substantial question of law arises in this Appeal - appeal dismissed.

Summary

The Supreme Court dismissed the appeal as no substantial question of law arose. The National Company Law Tribunal was requested to expedite the pending proceedings, specifically the Avoidance Application. Pending applications were disposed of.