Replacement of the Appellant with another Resolution ...

Insolvency and Bankruptcy

December 14, 2023

Replacement of the Appellant with another Resolution Professional - When the Resolution has been passed by the CoC in accordance with the provisions of the IBC deciding to replace the IRP, IRP cannot be heard in questioning the resolution on the ground that present was not a case where IRP could have been replaced by another Resolution Professional. - AT

View Source

← Previous Next →

Replacement of the Appellant with another Resolution ...

Insolvency and Bankruptcy

December 14, 2023

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...

Liquidation of the Corporate Debtor - the Adjudicating Authority vide order dated 28.09.2021 gave opportunity to the Resolution Professional and the CoC to take steps to...

CIRP - Calculation of the interest - admission of the claim by the Resolution Professional - The Adjudicating Authority directed to examine the exorbitantly high...

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...

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....

Challenge to direction that entire cost be paid by the Applicant/Appellant - Admission of CIRP set aside - Corporate Debtor was NBFC - NCLAT observed that, in a...

Approval of Resolution Plan - voting share was not sufficient enough to get any plan approved - There are only two option available as on date, first to direct the...

CIRP - Scope of the Supreme Court order - Direction to Sahara group of companies not to part with movable and immovable properties - The order dated 21.11.2013 passed by...

Permission to withdraw the Corporate Insolvency Resolution Process (CIRP) - The resolution for withdrawal of CIRP did not obtain the required percentage of voting by the...

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...

Approval of Resolution Plan - Sub-section (1) of Section 31 of the I&B Code, 2016 - The Committee of Creditors invariably examine the Resolution Plan and an assessment...

Extension of CIRP - not taking a decision by the CoC without any reason will not become a reason for exclusion of the time period from the CIRP period. Besides this, CoC...

Appointment of IRP - the provisions of law empower the CoC contemplated under Section 22 of the I&B Code, 2016 either to continue the IRP as RP or replace the IRP. When...

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

Approval of Resolution Plan - actions of the Resolution Professional and the CoC are consistent with the NCLAT order or not - When none of the Resolution Plans was...

Quick Updates: