Appeal [ Section 32 ] - Insolvency Resolution And Liquidation For Corporate Persons - IBC

Appeal [ Section 32 ] Any appeal from an order approving the resolution plan shall be in the manner and on the grounds laid down in sub-section (3) of section 61. Sectio n 61(3) provides that - A n appeal against an order approving a resolution plan under section 31 may be filed on the following grounds, namely: the approved resolution plan is in contravention of the provisions of any law for the time being in force; there has been material irregularity in exercise of the powers by the resolution professional during the corporate insolvency resolution period; the debts owed to operational creditors of the corporate debtor have not been provided for in the resolution plan in the manner specified by the Board; the insolvency resolution process costs have not been provided for repayment in priority to all other debts; or the resolution plan does not comply with any other criteria specified by the Board.