Latest - TMI e-Newsletter
New User/ Regiser
2022 (9) TMI 633 - Insolvency & Bankruptcy
Approval of the Resolution Plan - Resolution Plan challenged on the ground that all claims/demands/liabilities owed or payable to the Operational Creditors including the Appellant itself ought not to be permanently extinguished - HELD THAT:- Keeping in view of the fact that the Resolution was already approved vide Impugned Order dated 19.10.2020 and almost two years have passed and specifically that there are contrary stands taken by both parties with respect to the possession and the ownership of the subject land and also taking into consideration the Order of the Adjudicating Authority dated 02.02.2021 taking on record the terms of settlement between Mr. Pradeep Agarwal and the Resolution Applicant regarding the subject land, it is found a fit case to grant liberty to the Appellant to proceed in accordance with law in an appropriate forum.
Appeal allowed in part.