Approval of Resolution Plan - Whether the CoC is empowered to ...

Case Laws Insolvency and Bankruptcy

October 18, 2023

Approval of Resolution Plan - Whether the CoC is empowered to decide the distribution methodology? - Keeping in view the catena of Judgments of the Hon’ble Apex Court regarding the commercial wisdom of the CoC in approving the Plan and the limited jurisdiction therein, this Tribunal is of the considered view that ‘the CoC in its commercial wisdom can propose, consider and decide on the distribution mechanism under the Resolution Plan’, as long as it is within the domain of Section 30(2) of the Code. - AT

View Source

← Previous Next →

Approval of Resolution Plan - Whether the CoC is empowered to ...

Case Laws Insolvency and Bankruptcy

October 18, 2023

You may also like:

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...

Approval of Resolution Plan - Appellants raised several objections against the Resolution Plan, as approved by the CoC, being discriminatory towards ‘Operational...

Validity of approval of Resolution plan - home buyers - no opinion was obtained on feasibility and viability - when the CoC approved the Resolution Plan in its...

Approval of Resolution plan - There is no error in the consideration of the CoC of the Resolution Plan and the commercial wisdom of the CoC by approving the Resolution...

Approval of the Resolution Plan approved by the Committee of Creditors (CoC) - Commercial Wisdom of the CoC with respect to viability and financial decision taken while...

Approval of Resolution Plan - Fresh claim - When the Resolution Plan has already been approved by the CoC and it is pending before the Adjudicating Authority for...

Approval of Resolution Plan - actions of the Resolution Professional and the CoC are consistent with the NCLAT order or not - When none of the Resolution Plans was...

Revision of claim towards salary after the approval of resolution plan - The Applicant had very conveniently decided to sleep over his right from the order dated...

Approval of Resolution Plan - CIRP - when a resolution plan is approved by the CoC with more than 66% vote share and submitted before the Adjudicating Authority for...

CIRP - power to entertain new Resolution Plan after approval of another resolution plan by the CoC - The Appellant has made out a prima-facie case to be interfered with...

Withdrawal of Resolution Plan after approval of the plan by CoC and pending approval by this Tribunal - The Resolution Applicant cannot be compelled to perform and...

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...

Approval of Resolution Plan - voting share was not sufficient enough to get any plan approved - There are only two option available as on date, first to direct the...

Settlement proposal under Section 12A of IBS - Resolution Plan already approved by the Coc - The Adjudicating Authority committed error in giving an opportunity to...

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...

Quick Updates: