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Home Highlights December 2022 Year 2022 This

Approval of resolution plan - Seeking a direction to the ...

Insolvency and Bankruptcy

December 21, 2022

Approval of resolution plan - Seeking a direction to the Resolution Professional (RP) to call for a Meeting at the CoC - It is reiterated that the ‘Maximisation of Value of Assets’ ought to be ‘within the specified timelines’ and if it is not a ‘timebound process’, the entire scope and objective of the Code would fail merely because there is another higher offer made by a third party, the CoC cannot consider another Plan of a third party who did not participate in the CIRP Proceedings. - AT

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