NCLAT dismissed homebuyers' appeal challenging resolution plan, ...

Homebuyers' Challenge Fails: Resolution Plan Upheld, Creditors' Commercial Wisdom Prevails Under Insolvency Code

April 9, 2025

Case Laws IBC AT

NCLAT dismissed homebuyers' appeal challenging resolution plan, finding no merit in their claim. The Appellate Tribunal reaffirmed the Committee of Creditors' commercial wisdom and previously upheld resolution plan approvals. Despite appellants' contentions regarding voting rights and claim considerations, the tribunal determined the resolution plan was validly approved in 2022 and subsequently confirmed. The appeal was deemed infructuous, with the resolution plan remaining unchanged. Appellants' arguments regarding voting share and claim validity were ultimately rejected, maintaining the existing resolution plan's integrity and effectiveness.

View Source

← Previous Next →

NCLAT dismissed homebuyers' appeal challenging resolution plan, ...

Homebuyers' Challenge Fails: Resolution Plan Upheld, Creditors' Commercial Wisdom Prevails Under Insolvency Code

April 9, 2025

Case Laws IBC AT

You may also like:

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:...

Rejection of the Resolution Plan approved by the Committee of Creditors (CoC) - When the plan is approved with requisite vote, it has to be assumed that the said...

The NCLAT upheld the Adjudicating Authority's order approving the Resolution Plan, which was approved by the CoC with 70.07% voting share. The Appellant, a dissenting...

Resolution plan approved by CoC cannot be challenged by individual homebuyer/allottee. Homebuyers/allottees who paid money for real estate project, whether genuine or...

Challenge to an approved Resolution Plan where no consideration was given to payment to an Operational Creditor. The key points are: Section 30(2)(b) mandates that...

NCLAT ruled on NCLT's authority to modify resolution plans under IBC. Court held NCLT's powers do not extend to examining CoC's commercial wisdom or conducting...

Objection to Resolution Plan submitted - categorization of the Appellant as ‘affected’ homebuyer - The Tribunal upheld the classification of homebuyers into 'affected'...

Approval of Resolution Plan by the Committee of Creditors (Coc) and Adjudicating Authority - Group of 77 homebuyers as a class of creditors seeking rejection of plan. -...

CIRP - Classification of the claim - Claim as contingent due to pending litigation - Citing legal precedent, the Tribunal upheld the classification of the claim at a...

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...

Approval of a resolution plan - The Tribunal dismissed objections raised by dissenting homebuyers, citing that since the homebuyers as a class assented to the plans,...

The NCLAT dismissed the appeal, holding that the Resolution Plan submitted by the Resolution Applicant did not violate any provisions of law, including Regulation 37(ba)...

Approval of Resolution plan - the Adjudicating Authority per se is not to be involved in the commercial wisdom area of the Committee of Creditors, particularly, in the...

Rejection of application seeking consideration of his resolution plan submitted - Looking at the total circumstances of the case, including the views of joint lenders...

Approval of the resolution plan - dissenting financial creditor - order of priority among the creditors as also the priority and value of the security interest of a...

Quick Updates: