NCLAT dismissed the appeal involving a suspended corporate ...

Corporate Director's Appeal Denied: Resolution Professional Protects Plan Integrity by Requiring Confidentiality Undertaking Under Insolvency Code

May 14, 2025

Case Laws IBC AT

NCLAT dismissed the appeal involving a suspended corporate director's request for a resolution plan copy. The appellate tribunal ruled that the resolution professional (RP) was justified in requesting an undertaking preventing the appellant and related parties from submitting a competing resolution plan, given that the appellant's brother was simultaneously preparing a plan submission. The tribunal found the RP's precautionary measure reasonable to protect confidential information and prevent potential conflicts of interest in the insolvency proceedings. The appeal was consequently rejected, upholding the RP's discretionary decision to safeguard the resolution plan's integrity.

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NCLAT dismissed the appeal involving a suspended corporate ...

Corporate Director's Appeal Denied: Resolution Professional Protects Plan Integrity by Requiring Confidentiality Undertaking Under Insolvency Code

May 14, 2025

Case Laws IBC AT

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