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IBC - Highlights / Catch Notes

Home Highlights January 2024 Year 2024 This

Approval of Resolution Plan - CIRP - when a resolution plan is ...

Insolvency and Bankruptcy

January 9, 2024

Approval of Resolution Plan - CIRP - when a resolution plan is approved by the CoC with more than 66% vote share and submitted before the Adjudicating Authority for approval, it follows therefore that this process cannot be allowed to be frustrated on flimsy grounds. Hence, further delay in CIRP cannot be countenanced. The RP and the CoC cannot be faulted for disallowing further time to the Appellant to study the resolution plan of DK. - AT

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