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IBC - Highlights / Catch Notes

Home Highlights August 2021 Year 2021 This

Approval of Resolution Plan - liquidation - There are no reason ...

Insolvency and Bankruptcy

August 5, 2021

Approval of Resolution Plan - liquidation - There are no reason to admit the Appeal in the facts of the matter. Although the CoC did not strictly follow the time frame given by the Adjudicating Authority and displeasure was expressed, when Adjudicating Authority exercised discretion not to pass order of liquidation and wait, we will not interfere in the discretion. When the Resolution Plan is on the verge of being accepted or rejected by the CoC it would not make much difference if little time is extended. - AT

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