Rectification in the approved Resolution Plan - Adjudicating ...

Case Laws Insolvency and Bankruptcy

July 23, 2020

Rectification in the approved Resolution Plan - Adjudicating Authority had no jurisdiction to entertain an application for rectification of Resolution Plan and making substantial changes in the Plan, after a lapse of 13 months of the completion of CIRP, even after the approval and implementation of the Resolution Plan on the pretext of rectification of clerical or typographical error in the order.

View Source

← Previous Next →

Rectification in the approved Resolution Plan - Adjudicating ...

Case Laws Insolvency and Bankruptcy

July 23, 2020

You may also like:

The adjudicating authority has jurisdiction to cancel a registered General Power of Attorney (PoA) executed in favor of the appellant, who was a nominee of the corporate...

Resolution plan approved by Committee of Creditors (CoC) with 97.54% vote share. Commercial wisdom of CoC in approving resolution plan not to be lightly interfered with....

Rejection of Approval Plan - When Appellant has submitted the Resolution Plan which was approved on 08.11.2018, he cannot just say that he was not aware of the...

Challenge to an approved Resolution Plan where no consideration was given to payment to an Operational Creditor. The key points are: Section 30(2)(b) mandates that...

The summary focuses on the approval of a resolution plan by the Committee of Creditors (CoC) and the limited scope of judicial review by the adjudicating authority. The...

CIRP - Scope of the Supreme Court order - Direction to Sahara group of companies not to part with movable and immovable properties - The order dated 21.11.2013 passed by...

Rejection of claim of the Applicant - It has been made abundantly clear that the Resolution Applicant can be made liable for the dues which are forming part of the...

Entertainment of claims made by creditors after approval of Resolution Plan - A stakeholder cannot afford to sleep over his claims and fail to submit it on time and come...

Approval of the resolution plan - ascertaining the liquidation value of the Corporate Debtor - The Appellant did not raise any objection regarding assessment of the...

CIRP - power to entertain new Resolution Plan after approval of another resolution plan by the CoC - The Appellant has made out a prima-facie case to be interfered with...

The Appellate Tribunal dismissed the appeal, holding that there was no infirmity in the Adjudicating Authority's order rejecting the application to set aside the...

Validity of Resolution Plan as approved - Expression fo Interest - application of a person who has not participated in CIRP - eligibility criteria for the prospective...

CIRP - Recovery proceedings initiated by the bank under SARFAESI Act - Respondent No. 1 certainly has the right to proceed against the collateral securities for recovery...

Approval of Resolution Plan - Whether the CoC and Adjudicating Authority discriminated the Operational Creditors from Financial Creditor - once the plan was approved by...

Settlement proposal under Section 12A of IBS - Resolution Plan already approved by the Coc - The Adjudicating Authority committed error in giving an opportunity to...

Quick Updates: