2024 (2) TMI 680 - SCH - Insolvency and Bankruptcy

Settlement proposal under Section 12A of IBC - Resolution Plan already approved by the CoC - whether settlement proposal under Section 12A can be given at any stage even after approval of the Resolution Plan? - it was held by NCLAT that The application for approval of the Resolution Plan which has already been filed and pending consideration, the Adjudicating Authority ought to have considered and decided the Application for approval of the plan - HELD THAT - There are no reason to interfere with the order of the National Company Law Appellate Tribunal - appeal dismissed.

Summary

The Supreme Court dismissed the appeals and upheld the order of the National Company Law Appellate Tribunal dated 8 January 2024 in Company Appeal (AT)(Insolvency) Nos 1715-1716 of 2023.