NCLAT dismissed the appeal challenging the impugned order ...

Finality of Approved Resolution Plan Upheld, Settlement Proposal Rejected After Approval Stage.

January 7, 2025

Case Laws IBC AT

NCLAT dismissed the appeal challenging the impugned order rejecting the one-time settlement (OTS) proposal. It held that the adjudicating authority rightly rejected the OTS proposal as the resolution plan had already been approved. Reopening the proceedings to consider a subsequent settlement proposal would be impermissible after the finality of the approved resolution plan, unless compelling reasons existed, which was not the case here. The appeal against the impugned order was found unmerited.

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NCLAT dismissed the appeal challenging the impugned order ...

Finality of Approved Resolution Plan Upheld, Settlement Proposal Rejected After Approval Stage.

January 7, 2025

Case Laws IBC AT

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