Power of RP or CoC to call for final compliant Resolution Plan ...

Tribunal Rules: CoC Can't Call for Final Compliant Resolution Plans Post-Negotiation; Applicant's Plan Stands Approved.

August 18, 2022

Case Laws Insolvency and Bankruptcy AT

Power of RP or CoC to call for final compliant Resolution Plan once the CoC concluded the negotiations on Resolution Plans - only resolution plan submitted by the applicant was deemed to be approved - this Tribunal is of the view that the amendment is only to consider the feasibility, viability of each plan and not to call fresh resolution plans (decided by RP) under the guise of final compliant resolution plan. - AT

View Source

← Previous Next →

Power of RP or CoC to call for final compliant Resolution Plan ...

Tribunal Rules: CoC Can't Call for Final Compliant Resolution Plans Post-Negotiation; Applicant's Plan Stands Approved.

August 18, 2022

Case Laws Insolvency and Bankruptcy AT

You may also like:

Rejection of Application for Pre-Packaged Insolvency Resolution Process (PPIRP) based on Ineligibility or Deficiency in Application - The NCLAT found the application was...

NCLAT dismissed an appeal challenging the rejection of a new resolution plan submission. The tribunal held that once a resolution plan is approved by the Committee of...

Approval of Resolution Plan - NCLAT / NCLT kept the application pending and Directed the Official Liquidator (OL) to carry out a re-valuation of assets - if after...

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

The jurisdiction of the Adjudicating Authority and the Appellate Tribunal to interfere with the Resolution Plan approved by the Committee of Creditors (CoC) is limited...

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...

Direction to COC to consider ineligibility of 3rd Respondent under Section 29A of I&B Code - as per the Provisions of Law, the COC has power to take a decision with...

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

NCLAT ruled on NCLT's authority to modify resolution plans under IBC. Court held NCLT's powers do not extend to examining CoC's commercial wisdom or conducting...

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....

Corporate Insolvency Resolution Process (CIRP) - Settlement proposal initially rejected by Committee of Creditors (CoC), revised proposal submitted and pending...

The Committee of Creditors (CoC) does not have jurisdiction to substitute the successful resolution applicant (SRA) with another entity who was not part of the Corporate...

CIRP - Objection to the Resolution Plan approved by the Committee of Creditor - decisions taken by the CoC are not invalidated by a subsequent change in the composition...

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...

Rejection of valuation report obtained by the RP from its valuers - The NCLAT observed that, Resolution Professional appointed valuers for asset valuation under CIRP...

Quick Updates: