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IBC - Highlights / Catch Notes

Home Highlights May 2021 Year 2021 This

Validity of unilateral changes made to the Resolution Plan - ...


Court Rules Banks Decide on Resolution Plan Changes in Insolvency Case; Declines to Implement Lenders Meeting Conclusions.

May 13, 2021

Case Laws     Insolvency and Bankruptcy     HC

Validity of unilateral changes made to the Resolution Plan - implementation of Resolution Plan - It is for the respondent Banks to take a decision as to whether the petitioner Company should be revived and whether additional money has to be pumped in by them, but this Court cannot give a direction to take forward the conclusions arrived in the Joint Lenders Meeting held on 19th and 27th of March, 2020, to the logical end. - HC

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