Home Case Index All Cases Insolvency and Bankruptcy Insolvency and Bankruptcy + AT Insolvency and Bankruptcy - 2024 (2) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2024 (2) TMI 92 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL , PRINCIPAL BENCH , NEW DELHIRejection of the Resolution Plan submitted by Respondent No. 3 - HELD THAT:- The Approval of the Resolution Plan by the CoC is the commercial wisdom of the CoC challenge to which approval can be on limited ground when it is shown that Resolution Plan is not in compliance with Section 30(2) of the Code. No ground has been made out in the Appeal to show that Resolution Plan is in non-compliance of Section 30(2) of the Code. Further, this Tribunal in AJR INFRA AND TOLLING LTD. (FORMERLY GAMMON INFRASTRUCTURE PROJECTS LTD.) VERSUS SUTANU SINHA; COMMITTEE OF CREDITORS PATNA HIGHWAY PROJECTS LTD. ; SILVER POINT LUXEMBOURG PLATFORM S.A.R.L. [2023 (5) TMI 1291 - NATIONAL COMPANY LAW APPELLATE TRIBUNAL, PRINCIPAL BENCH, NEW DELHI] has held that the plan is in compliance of the all mandatory requirements and plan has already been upheld. Thus, no grounds have been made out to interfere with the Order impugned passed by the Adjudicating Authority - appeal dismissed.
|