Approval of Resolution plan - payments to related parties - ...

Insolvency Resolution Plan Approved with Over 82% CoC Support; No Worker Grievances or Appeals Filed.

January 10, 2024

Case Laws Insolvency and Bankruptcy AT

Approval of Resolution plan - payments to related parties - discrimination in Resolution Plan - No workers and employees have any grievance nor any workers and employees is dissatisfied with the payments made under the plan to them nor have they come in Appeal. Plan has been approved with 82.40% vote shares of the CoC - view of the Adjudicating Authority also confirmed that there is no non-compliance of Section 30(2) of the IBC. - AT

View Source

← Previous Next →

Approval of Resolution plan - payments to related parties - ...

Insolvency Resolution Plan Approved with Over 82% CoC Support; No Worker Grievances or Appeals Filed.

January 10, 2024

Case Laws Insolvency and Bankruptcy AT

You may also like:

Resolution plan approved by Committee of Creditors (CoC) with 97.54% vote share. Commercial wisdom of CoC in approving resolution plan not to be lightly interfered with....

The court held that the Committee of Creditors (CoC) rightly considered and rejected the resolution plan submitted by M/s. Saverni Neutech Pvt. Ltd. and approved the...

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...

The NCLAT dismissed the appeal challenging the approval of the resolution plan by the Committee of Creditors (CoC) and the Adjudicating Authority. The key findings were:...

Withdrawal of Resolution Plan - resolution plan was approved by Committee of Creditors - the existing insolvency framework in India provides no scope for effecting...

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...

Fresh consideration of resolution plan after a resolution approved by the CoC - Direction given by the NCLAT that Corporate Insolvency Resolution Process (CIRP) to be...

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...

Statutory framework under Insolvency and Bankruptcy Code (IBC) examined. Settlement proposal by appellant rejected by Committee of Creditors (CoC) u/s 12A, as it sought...

Appeal against order filed by Resolution Professional (RP) was disposed of. Resolution Plan submitted by Appellant was approved by Committee of Creditors (CoC) on...

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

NCLAT dismissed an appeal challenging the rejection of a new resolution plan submission. The tribunal held that once a resolution plan is approved by the Committee of...

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...

Implementation of the Resolution Plan and change in management and control - Demand of customs duty - The appellant did not file any claim during the insolvency process,...

Rejection of valuation report obtained by the RP from its valuers - The NCLAT observed that, Resolution Professional appointed valuers for asset valuation under CIRP...

Quick Updates: