Power of RP or CoC to call for final compliant Resolution Plan ...

Insolvency and Bankruptcy

August 18, 2022

Power of RP or CoC to call for final compliant Resolution Plan once the CoC concluded the negotiations on Resolution Plans - only resolution plan submitted by the applicant was deemed to be approved - this Tribunal is of the view that the amendment is only to consider the feasibility, viability of each plan and not to call fresh resolution plans (decided by RP) under the guise of final compliant resolution plan. - AT

View Source

← Previous Next →

Power of RP or CoC to call for final compliant Resolution Plan ...

Insolvency and Bankruptcy

August 18, 2022

You may also like:

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...

Improper handling of Resolution Plan - Respondent No.1 alleges that the Resolution Professional (RP) violated the process by opening a sealed cover containing the plan...

Approval of Resolution Plan - NCLAT / NCLT kept the application pending and Directed the Official Liquidator (OL) to carry out a re-valuation of assets - if after...

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...

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. -...

Backdoor entry for approval of resolution plan - The action of the RP and CoC is in violation of the express provisions of the Code and Regulations made thereunder....

Approval of resolution plan - Seeking a direction to the Resolution Professional (RP) to call for a Meeting at the CoC - It is reiterated that the ‘Maximisation of Value...

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...

Rejection of Application for Pre-Packaged Insolvency Resolution Process (PPIRP) based on Ineligibility or Deficiency in Application - The NCLAT found the application was...

CIRP - Objection to the Resolution Plan approved by the Committee of Creditor - decisions taken by the CoC are not invalidated by a subsequent change in the composition...

Validity of Direction to place Settlement Proposal, sent by Respondent No. 1 before the CoC for its consideration - Considering the ratio of the Judgement of the Hon'ble...

Power of Resolution Professional to decide or reject the claim of one or other 'Financial Creditor' or 'Operational Creditor' - once resolution plan has been approved by...

Reconsideration of Resolution Plan - The Appellant cannot question the commercial wisdom of the CoC in rejecting the Resolution Plan, with the requisite majority and in...

Withdrawal of Resolution Plan - resolution plan was approved by Committee of Creditors - the existing insolvency framework in India provides no scope for effecting...

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

Quick Updates: