Prayer for direction for placing the Settlement Proposal ...

Appeal Dismissed: Tribunal Upholds Rejection of Settlement Proposal by Creditors' Committee, Affirms Decision's Validity.

February 28, 2024

Case Laws Insolvency and Bankruptcy AT

Prayer for direction for placing the Settlement Proposal submitted by the Appellant before the CoC for consideration - CoC unanimously decided to reject the proposal -The Adjudicating Authority's role is to ensure that the CoC's decision is not arbitrary. Upon review, it found that the CoC had adequately considered the proposal and made a reasoned decision. Therefore, the Adjudicating Authority upheld the rejection of the Appellant's application. - The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, finding no error in the Adjudicating Authority's decision to reject the Appellant's application.

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Prayer for direction for placing the Settlement Proposal ...

Appeal Dismissed: Tribunal Upholds Rejection of Settlement Proposal by Creditors' Committee, Affirms Decision's Validity.

February 28, 2024

Case Laws Insolvency and Bankruptcy AT

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