Approval of Resolution Plan Without Adequate Consideration of ...

Case Laws     Insolvency and Bankruptcy

February 14, 2024

Approval of Resolution Plan Without Adequate Consideration of Appellant's Claim - Greater Noida - - The Supreme court found that the resolution plan's approval was flawed as it did not properly acknowledge or incorporate the appellant's claim or its status as a secured creditor. The plan's failure to provide for the appellant's claim, as required under Section 30(2) of the IBC, rendered the approval process defective.

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