TMI BlogLiquidation of Corporate debtor - Rejection of application seeking extension of timeline as mentioned in...Liquidation of Corporate debtor - Rejection of application seeking extension of timeline as mentioned in the “Invitation for Submission of Scheme” - The Appellant has not shown any proof of a scheme of compromise and arrangement that is formulated and ready, and proposed for consideration nor has the Appellant obtained the consent of 75% of the secured creditors of the corporate debtor in support of such a scheme. - The 90 days’ timeline has already expired - NCLT rightly rejected the application - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
