Validity of approval of resolution plan of corporate debtor - ...

Court Upholds Resolution Plan; New Power Purchase Agreement Required Under WBERC Regulations Post-CIRP Conclusion.

March 21, 2022

Case Laws Insolvency and Bankruptcy AT

Validity of approval of resolution plan of corporate debtor - the Resolution plan as approved by the CoC using its commercial wisdom and subsequent approval by the Adjudicating Authority vide the Impugned Order does not suffer from any legal infirmity. Moreover the new connection to the successful resolution applicant/corporate debtor should be given under WBERC Regulations as the CIRP has ended and a fresh power purchase agreement is necessary which will require fresh security deposit and payment of any other charges as required under WBERC Regulations, which will be in accordance with the modifications in approved resolution plan - AT

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Validity of approval of resolution plan of corporate debtor - ...

Court Upholds Resolution Plan; New Power Purchase Agreement Required Under WBERC Regulations Post-CIRP Conclusion.

March 21, 2022

Case Laws Insolvency and Bankruptcy AT

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