Objection to Resolution Plan submitted - categorization of the ...

Insolvency and Bankruptcy

March 27, 2024

Objection to Resolution Plan submitted - categorization of the Appellant as ‘affected’ homebuyer - The Tribunal upheld the classification of homebuyers into 'affected' and 'unaffected' categories, agreeing with the rationale and justification provided for the different treatment of these groups. It also referenced its previous judgment affirming this classification. - The Tribunal found that the requirement for an NOC from LICHFL was valid and necessary. - The NCLAT noted the overwhelming approval of the Resolution Plan by the Committee of Creditors (CoC), including the majority of homebuyers, and found no grounds to challenge the Plan's approval.

View Source

← Previous Next →

Objection to Resolution Plan submitted - categorization of the ...

Insolvency and Bankruptcy

March 27, 2024

You may also like:

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,...

Liquidation of corporate Debtor - Eligibility of the Appellant to submit the Resolution Plan under section 29 A of IBC - The tribunal upheld the declaration that the...

CIRP - Delay in making claim - The case revolved around a Homebuyer's appeal regarding the delay in submitting their claim in an insolvency resolution process. Despite...

Disqualification of resolution applicant - wilful defaulter of bank - Rejection of Resolution Plan submitted by the Applicant - Appellant submits that on the day when...

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. -...

Approval of resolution plan - The learned Counsel for the RP has submitted before us that Appellant itself has submitted twice the Resolution Plan, which could not be...

Approval of Resolution Plan - out of 26 Homebuyers, only 19 Homebuyers voted in the matter and that in terms of Section 25-A(3-A) of the IBC, the Authorized...

CIRP in process - default to give possession of flats to homebuyers - grievance raised in this petition is that the application filed for the initiation of corporate...

Eligibility to submit resolution plan - the Successful Resolution Applicant working through Mrs. Rashmi Saxena, one of its directors, was not ineligible to submit a...

Validity of approved Resolution Plan - Authorized Representative on behalf of majority of home buyers represented - the view of individual homebuyer is therefore...

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...

Approval of the Resolution Plan - Appellant (Successful Resolution Applicant - SRA) submits that after approval of Resolution Plan of the Appellant by the CoC, there was...

CIRP - Fairness of Resolution plan - appellant being Association of the ‘Homebuyers’ - plan challenged on various issued including, the ‘Resolution Plan’ amount being...

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...

Eligibility of ex-promoter/Corporate Debtor u/s 29A read with Section 240A of the IBC to submit a resolution plan claiming the benefits of MSME - rejection of Resolution...

Quick Updates: