CIRP - extinguished claims - When CIRP has been terminated way ...

Section 9 Application Dismissed: Operational Creditor's Late Challenge to Resolution Plan Denied After 5 Years.

December 8, 2023

Case Laws Insolvency and Bankruptcy AT

CIRP - extinguished claims - When CIRP has been terminated way back in 2017 and the Corporate Debtor is already in saddle after following the due process, allowing a Section 9 application to proceed on the basis of an extinguished claim which had not been preferred before the Resolution Professional within the stipulated time cannot be countenanced. The Operational Creditor has endeavoured to indirectly assail the approval of a resolution plan after more than 5 years by initiating a separate Section 9 proceeding which is legally not tenable. - AT

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CIRP - extinguished claims - When CIRP has been terminated way ...

Section 9 Application Dismissed: Operational Creditor's Late Challenge to Resolution Plan Denied After 5 Years.

December 8, 2023

Case Laws Insolvency and Bankruptcy AT

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