Approval of Resolution Plan - Right of the secured creditor over ...

Resolution Plan Approval Limits Secured Creditors from Enforcing Security Interests During CIRP Under Insolvency and Bankruptcy Code.

July 8, 2023

Case Laws Insolvency and Bankruptcy AT

Approval of Resolution Plan - Right of the secured creditor over immovable asset of the Corporate Debtor - Unless the prohibition is imposed, all assets of the Corporate Debtor shall not be available for revival and maximisation of the value of the Corporate Debtor, which is principal/primary objective of the I&B Code. Financial Creditor who is part of the CoC is prohibited from enforcing any security interest. A third-party security holder like Appellant is equally bound by the provision of Section 14(1)(c) and cannot claim any enforcement of security interest in the CIRP. - AT

View Source

← Previous Next →

Approval of Resolution Plan - Right of the secured creditor over ...

Resolution Plan Approval Limits Secured Creditors from Enforcing Security Interests During CIRP Under Insolvency and Bankruptcy Code.

July 8, 2023

Case Laws Insolvency and Bankruptcy AT

You may also like:

Approval of the resolution plan - dissenting financial creditor - order of priority among the creditors as also the priority and value of the security interest of a...

Approval of Resolution Plan - extinguishment of security interest and the guarantees - Resolution Plan in question has consciously dealt with securities and personal...

The summary focuses on the approval of a resolution plan by the Committee of Creditors (CoC) and the limited scope of judicial review by the adjudicating authority. The...

The NCLAT addressed issues regarding the approval of a Resolution Plan by Suraksha Realty Limited, focusing on the treatment of claims filed in the CIRP of the Corporate...

Approval of Resolution Plan Without Adequate Consideration of Appellant's Claim - Greater Noida - - The Supreme court found that the resolution plan's approval was...

Approval of Resolution Plan - whether the Appellant is secured creditor of the Corporate Debtor or not? - The Tribunal noted that the appellant based their claim on...

Priority to the first charge holder - Secured Creditor - relinquishment of security interest - Sub-classification inter-se the Secured Creditors in the distribution...

The NCLAT dismissed the appeal filed by the Appellant challenging the approval of the resolution plan for the Corporate Debtor. The key points are: The Interim...

Distribution of proceeds of Resolution Plan - Secured creditors - The conclusion of the committee is that the priority under Section 53(1)(b)(ii) shall be only to the...

CIRP - discrimination against secured creditor - The Appellant a ‘Secured Financial Creditor’ has been discriminated with other ‘Secured Financial Creditors’, we hold...

Approval of Resolution Plan - The Tribunal found the resolution plan’s treatment of operational creditors contrary to Section 30(2)(b) of the IBC, as operational...

NCLAT affirmed the approval of a resolution plan where unsecured dissenting financial creditors received Rs.1.5 Crore against their admitted claim of Rs.10.94 Crore,...

CIRP - Admissibility of Section 95 Applications against Personal Guarantors - discharge the liabilities of Personal Guarantors on approval of Resolution Plan - The...

CIRP - Classification of the claim - Claim as contingent due to pending litigation - Citing legal precedent, the Tribunal upheld the classification of the claim at a...

Approval of Resolution Plan - provision for the payment of Provident Fund dues not made - After approval of the Resolution Plan under Section 31, the claims as provided...

Quick Updates: