CIRP - Disapproval of Resolution Plan - Liquidation of the ...

Resolution Plan Rejected, Corporate Debtor Faces Liquidation Due to Ineligibility Under Insolvency and Bankruptcy Code.

January 2, 2024

Case Laws Insolvency and Bankruptcy AT

CIRP - Disapproval of Resolution Plan - Liquidation of the Corporate Debtor ordered - ineligible under Section 29 (A) (g) of the Code - It is evident that once the Resolution Applicant become ineligible under Section 29 (A) (g) of the Code, the Adjudicating Authority is bound to reject the Resolution Plan and consequently order for Liquidation of the Corporate Debtor - AT

View Source

← Previous Next →

CIRP - Disapproval of Resolution Plan - Liquidation of the ...

Resolution Plan Rejected, Corporate Debtor Faces Liquidation Due to Ineligibility Under Insolvency and Bankruptcy Code.

January 2, 2024

Case Laws Insolvency and Bankruptcy AT

You may also like:

Approval of the resolution plan - ascertaining the liquidation value of the Corporate Debtor - The Appellant did not raise any objection regarding assessment of the...

The resolution plan approved by the NCLT on 20th March, 2023, extinguished all claims, including statutory dues owed to the Central Government, that were not...

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...

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...

Liquidation of the Corporate Debtor if a Resolution Plan is rejected - Resolution Professional, Adjudicating Authority or the Appellate Authority is/are not empowered to...

The Committee of Creditors (CoC) with 100% vote share can directly proceed for liquidation of the Corporate Debtor without taking steps for resolution, as the power...

HC affirmed tax authority's adjustment of AY 2010-11 refund against pre-existing tax liabilities of corporate debtor. Resolution applicant's claim to refund rejected 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...

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...

Liquidation of the Corporate Debtor - CIRP period has expired and no resolution plan was approved by the Committee of Creditors - The Corporate Debtor is ordered to be...

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 Supreme Court held that the Effective Date for implementing the Resolution Plan was achieved on 20.05.2022 as all Conditions Precedent were fulfilled. The...

Liquidation of Corporate Debtor - no resolution plan was received during the CIRP proceedings - The Adjudicating Authority has rightly observed that even after pushing...

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...

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...

Quick Updates: