Seeking approval of the Resolution Plan - Keeping in view, the ...

Tribunal Overturns Liquidation Order, Approves Resolution Plan for Corporate Debtor Without RBI Pre-Approval Under Insolvency Code.

June 13, 2023

Case Laws Insolvency and Bankruptcy AT

Seeking approval of the Resolution Plan - Keeping in view, the clarification given by the Counsel for RBI that the ‘prior permission’ is not required, this ‘Tribunal’ is of the considered view that the Adjudicating Authority ought not to have rejected the Resolution Plan, more so, when the principal objective of the Code is that ‘revival of the Corporate Debtor and Resolution’. - The Order of the Adjudicating Authority directing ‘Liquidation’ is set aside - AT

View Source

← Previous Next →

Seeking approval of the Resolution Plan - Keeping in view, the ...

Tribunal Overturns Liquidation Order, Approves Resolution Plan for Corporate Debtor Without RBI Pre-Approval Under Insolvency Code.

June 13, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

The National Company Law Appellate Tribunal, Principal Bench, New Delhi, addressed the validity of the Corporate Insolvency Resolution Process (CIRP) against a...

Approval of Resolution Plan - whether the Appellant is secured creditor of the Corporate Debtor or not? - The Tribunal noted that the appellant based their claim on...

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 - Propriety of the valuation exercise conducted by the RP - The tribunal dismissed concerns regarding the SRA's competence, noting that the...

Eligibility of ex-promoter/Corporate Debtor u/s 29A read with Section 240A of the IBC to submit a resolution plan claiming the benefits of MSME - rejection of Resolution...

Approval of resolution plan - during the CIRP of ACIL, no valuer was appointed to determine the fair value of the shares held by the the Corporate Debtor. Therefore, the...

The Appellate Tribunal examined the applicability of Section 240A of the Insolvency and Bankruptcy Code (IBC) to the Corporate Debtor registered as an MSME and whether...

The Noida authority had terminated the lease deed of the subject land prior to the commencement of the Corporate Insolvency Resolution Process (CIRP) of the Corporate...

Initiation of CIRP - Guarantor - Extinguishment of debt - The NCLAT upheld the NCLT's decision, finding that ECL did not act as a guarantor for ESL's debts based on the...

CIRP - Validity of resolution plan - Nil Payment to Operational Creditors - waterfall mechanism - The Appellate Tribunal acknowledged the appellants' contention that...

CIRP - Physical inspection of plant and machinery of the Corporate Debtor - After approval of the Resolution Plan, Monitoring Committee under the statutory scheme is to...

Validity of approval of resolution plan of corporate debtor - the Resolution plan as approved by the CoC using its commercial wisdom and subsequent approval by the...

Fresh claim after approval of resolution plan - Arrears against the Corporate Debtor/Applicant - As soon as the Order approving the Resolution Plan was passed by this...

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...

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...

Quick Updates: