Withdrawal of Resolution Plan after approval of the plan by CoC ...

Insolvency and Bankruptcy

May 24, 2021

Withdrawal of Resolution Plan after approval of the plan by CoC and pending approval by this Tribunal - The Resolution Applicant cannot be compelled to perform and execute the Resolution Plan when he apprehends huge losses, and should be permitted to withdraw the Plan submitted by him for approval of this Adjudicating Authority - Tri

View Source

← Previous Next →

Withdrawal of Resolution Plan after approval of the plan by CoC ...

Insolvency and Bankruptcy

May 24, 2021

You may also like:

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. -...

Validity of approval of Resolution plan - home buyers - no opinion was obtained on feasibility and viability - when the CoC approved the Resolution Plan in its...

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 - Fresh claim - When the Resolution Plan has already been approved by the CoC and it is pending before the Adjudicating Authority for...

Approval of Resolution Plan - CIRP - when a resolution plan is approved by the CoC with more than 66% vote share and submitted before the Adjudicating Authority for...

Approval of Resolution plan - There is no error in the consideration of the CoC of the Resolution Plan and the commercial wisdom of the CoC by approving the Resolution...

Settlement proposal under Section 12A of IBS - Resolution Plan already approved by the Coc - The Adjudicating Authority committed error in giving an opportunity to...

Approval of Resolution Plan - Whether the CoC is empowered to decide the distribution methodology? - Keeping in view the catena of Judgments of the Hon’ble Apex Court...

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...

Approval of Resolution plan - Propriety of the valuation exercise conducted by the RP - The tribunal dismissed concerns regarding the SRA's competence, noting that the...

Withdrawal of petition - Applicant and the Debtor Company have never been qualified as a “Wilful defaulter” - Section 12A prescribes that the Adjudicating Authority may...

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

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...

CIRP - power to entertain new Resolution Plan after approval of another resolution plan by the CoC - The Appellant has made out a prima-facie case to be interfered with...

Rejection of approval Plan - CIRP - One of the reasons given by the Adjudicating Authority for rejection is that the claim of Income Tax Department of dues to be paid...

Quick Updates: