Validity of Resolution Plan - only 2% of their ‘Claims’ has been ...

Resolution Plan Approved: Full Payment of Workman and Statutory Dues Despite Low Claim Admission; Operational Creditors Can't Challenge CoC Decisions.

September 26, 2022

Case Laws Insolvency and Bankruptcy AT

Validity of Resolution Plan - only 2% of their ‘Claims’ has been admitted, while the workman and other statutory dues have been paid 100% - Having regard to the fact that the Resolution Plan was approved on 17.01.2021 by the CoC and subsequently by the Adjudicating Authority on 08.04.2021 and more than a year has lapsed, and also keeping in view that the ‘Operational Creditors’ do not have any Voting Right in the CoC and that the Commercial Wisdom of the CoC is non-justiciable and when there is no material irregularity on the face of the record - AT

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Validity of Resolution Plan - only 2% of their ‘Claims’ has been ...

Resolution Plan Approved: Full Payment of Workman and Statutory Dues Despite Low Claim Admission; Operational Creditors Can't Challenge CoC Decisions.

September 26, 2022

Case Laws Insolvency and Bankruptcy AT

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