Jurisdiction of Adjudicating Authority - withdrawal of approved ...

Case Laws Insolvency and Bankruptcy

August 18, 2020

Jurisdiction of Adjudicating Authority - withdrawal of approved Resolution Plan - after due deliberations, when the 1st Respondent/’Resolution Applicant’ had accepted the conditions of the ‘Resolution Plan’ especially keeping in mind the ingredients of Section 25(2)(h) of the ‘Code’ to the effect that ‘no change or supplementary information to the ‘Resolution Plan’ shall be accepted after the submission date of ‘Resolution Plan’ then it is not open to the 1st Respondent/’Resolution Applicant’ to take a ‘topsy turvy’ stance and is not to be allowed to withdraw the approved ‘Resolution Plan’. - AT

View Source

← Previous Next →

Jurisdiction of Adjudicating Authority - withdrawal of approved ...

Case Laws Insolvency and Bankruptcy

August 18, 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...

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...

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...

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...

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 Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP...

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...

Withdrawal of Resolution Plan - resolution plan was approved by Committee of Creditors - the existing insolvency framework in India provides no scope for effecting...

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...

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...

Recovery of arrears of electricity dues - waterfall mechanism - The dues of the corporate debtor have to be paid in the manner prescribed in the resolution plan, as...

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

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...

Statutory framework under Insolvency and Bankruptcy Code (IBC) examined. Settlement proposal by appellant rejected by Committee of Creditors (CoC) u/s 12A, as it sought...

Quick Updates: