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Home Highlights May 2023 Year 2023 This

Rejection of Resolution Plan -Rejection of Resolution Plan ...

Insolvency and Bankruptcy

May 9, 2023

Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan -Rejection of Resolution Plan - even while respecting the commercial wisdom of CoC, in the present case, the resolution plan in question could not have been approved by the Adjudicating Authority for two major reasons: one, for the ineligibility of the resolution applicant; and second, for not placing of the revised resolution plan in the CoC before seeking approval from the Adjudicating Authority. - SC

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