Rectification in the approved Resolution Plan - Adjudicating ...

Court Rules No Jurisdiction to Alter Resolution Plan Post-Approval; Changes Beyond Clerical Errors Not Permitted.

July 23, 2020

Case Laws Insolvency and Bankruptcy AT

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 ...

Court Rules No Jurisdiction to Alter Resolution Plan Post-Approval; Changes Beyond Clerical Errors Not Permitted.

July 23, 2020

Case Laws Insolvency and Bankruptcy AT

You may also like:

Challenge to an interim arbitral award u/s 31(6) of the Arbitration and Conciliation Act, 1996. The key issues are: (1) whether the rejection of an application u/s 16...

The High Court addressed the validity of an assessment against a company that had been dissolved. The court ruled that demand/penalty notices issued post-approval of the...

Demand of KGST when the resolution plan was approved - Jurisdiction and applicability of the Insolvency and Bankruptcy Code (IBC) over statutory dues. The court...

Withdrawal/modification of approved Resolution Plan - Section 31(1) of IBC - The Supreme Court addressed cross-appeals concerning the approval of a resolution plan under...

CESTAT (Appellate Tribunal) addressed whether appeals continue post initiation of Corporate Insolvency Resolution Process (CIRP) and approval of Resolution plan u/s...

Income tax proceedings against company dissolved / insolvent - Jurisdiction or authority to reopen or assess income for any period prior to the approval of the...

The case involves an appeal before CESTAT regarding continuation post Corporate Insolvency Resolution Process (CIRP) under IBC, 2016. NCLT approved a Resolution Plan...

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...

Approval of resolution plan with modification - Power of NCLT to modify the plan - Section 31 of the IBC - It is clear that mandate of legislation is either to approve...

Immunity to corporate debtors and their assets, upon approval of a resolution plan - jurisdiction of NCLT to release the attached properties by invoking Section 32A of...

The High Court examined the issue of liability to clear statutory dues post-insolvency proceedings under the Insolvency and Bankruptcy Code 2016. The resolution plan...

Refund of pre-deposit alongwith interest - CIRP - Approval of Resolution Plan under IBC - Analyzing the insolvency proceedings and the subsequent approval of the...

The Insolvency and Bankruptcy Code, 2016 (IBC) has overriding effects over other laws as per Section 238. After approval of the Resolution Plan by NCLT, pending...

The High Court held that the Execution Application filed by the Applicant against the Respondent does not survive due to the approved Resolution Plan under the...

Implementation of the Resolution Plan and change in management and control - Demand of customs duty - The appellant did not file any claim during the insolvency process,...

Quick Updates: