CIRP - Fairness of Resolution plan - appellant being Association ...

Case Laws Insolvency and Bankruptcy

December 15, 2022

CIRP - Fairness of Resolution plan - appellant being Association of the ‘Homebuyers’ - plan challenged on various issued including, the ‘Resolution Plan’ amount being lower than the ‘Liquidation Value’, ‘exorbitant interest charges’ by the ‘Financial Creditors’ in their claims, denial of claims of the ‘Appellant’ etc. - This ‘Appellate Tribunal’, does not find ‘any material irregularity’ or ‘patent illegality’, in the ‘impugned order’ - AT

View Source

← Previous Next →

CIRP - Fairness of Resolution plan - appellant being Association ...

Case Laws Insolvency and Bankruptcy

December 15, 2022

You may also like:

Approval of a resolution plan - The Tribunal dismissed objections raised by dissenting homebuyers, citing that since the homebuyers as a class assented to the plans,...

Resolution plan approved by CoC cannot be challenged by individual homebuyer/allottee. Homebuyers/allottees who paid money for real estate project, whether genuine or...

Once a resolution plan is approved u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 (IBC), only the debts specified in the resolution plan remain payable. This...

Approval of Resolution Plan - out of 26 Homebuyers, only 19 Homebuyers voted in the matter and that in terms of Section 25-A(3-A) of the IBC, the Authorized...

Objection to Resolution Plan submitted - categorization of the Appellant as ‘affected’ homebuyer - The Tribunal upheld the classification of homebuyers into 'affected'...

Challenge to direction that entire cost be paid by the Applicant/Appellant - Admission of CIRP set aside - Corporate Debtor was NBFC - NCLAT observed that, in a...

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...

This case deals with the extinguishment of demands due to the non-filing of claims by the revenue during the Corporate Insolvency Resolution Process (CIRP) under the...

The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim...

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...

Validity of approved Resolution Plan - Authorized Representative on behalf of majority of home buyers represented - the view of individual homebuyer is therefore...

Rejection of Resolution plan of another partly - Appellant, who is a dissatisfied minority, a single homebuyer has to sail alongwith the view of the majority in terms of...

Rejection of the Resolution Plan approved by the Committee of Creditors (CoC) - When the plan is approved with requisite vote, it has to be assumed that the said...

Locus Standi of shareholder of the Corporate Debtor to challenge the Resolution Plan - Seeking for forensic audit of the Books of Accounts of the Corporate Debtor, and...

CIRP - Resolution Plan - If unsolicited plans are obtained at any stage it will cause unnecessary avoidable delay in the CIRP process. If resolution plans are allowed to...

Quick Updates: