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Home Highlights March 2022 Year 2022 This

Validity of approval of Resolution Plan - It is submitted that ...

Insolvency and Bankruptcy

March 15, 2022

Validity of approval of Resolution Plan - It is submitted that Adjudicating Authority while approving the Resolution Plan has erroneously directed that Excluded Securities are no longer enforceable as defined under Resolution Plan which direction is contrary to the Resolution Plan. - Appeal are allowed by deleting the relevant part in Direction 1 of the Impugned Order under the heading ‘Reliefs, Concessions and Dispensations to the extent ‘hence, the excluded securities are no longer enforceable as defined under the resolution plan’. - AT

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