Tag: Committee of Creditors
Supreme Court issues directions to Committee of Creditors for safeguard interests of homebuyers in Insolvency proceedings In a recent judgment, Supreme Court has issued directions to Committee of Creditors for safeguard interests of homebuyers in Insolvency proceedings against the Builder/Real Estate developer Corporate Debtor ABCAUS Case Law Citation:4994 …
When CoC accepts a resolution plan and all mandatory requirements complied with, judicial review cannot be extended to analyse and look into the dissatisfaction evinced by any particular creditor or stakeholder – NCLAT In a recent judgment, NCLAT Delhi has held that it is the commercial wisdom of …
Once Resolution Plan is approved by COC, it is binding on all stakeholders. High Court quashed Assessment order and penalty notice In a recent judgment, Hon’ble Delhi High Court has quashed assessment order holding that once Resolution Plan is approved by COC, it is binding on all stakeholders. …
NCLAT or NCLT cannot sit in an appeal over the commercial wisdom of Committee of Creditors – Supreme Court ABCAUS Case Law Citation ABCAUS 3601 (2022) (06) SC Important case law relied referred:Arun Kumar Jagatramkav. Jindal Steel and Power Limited and AnotherK. Sashidhar v. Indian Overseas Bank and …
No modifications or withdrawals of CoC-approved Resolution Plans at behest of successful Resolution Applicant once plan submitted to Adjudicating Authority- Supreme Court In a recent judgment the Hon’ble Supreme Court have held that under the existing insolvency framework in India there is no scope for further modifications or …
Appellate Tribunal cannot sit in appeal on commercial wisdom of the ‘Committee of Creditors’ and to annul the resolution plan. SC dismissed SLP ABCAUS Case Law CitationABCAUS 3488 (2021) (04) SC Important case law relied referred:Committee of Creditors of Essar Steel India Limited vs. Satish Kumar Gupta & …
Consideration of matters / issues by the committee of creditors on request by members of the committee Insolvency and Bankruptcy Board of India7th Floor, Mayur Bhawan, Connaught Place, New Delhi-110001 CLARIFICATION No.: IBBI/CIRP/202116thApril, 2021 To All Registered Insolvency ProfessionalsAll Recognised Insolvency Professional EntitiesAll Registered Insolvency Professional Agencies (By …
Non member has no voting right in Committee of Creditors under IBC-2016. Non member cannot be regarded voted against a resolution or abstained from voting Financial creditor till admitted as a CoC member has no voting right Insolvency and Bankruptcy Board of India 7th Floor, Mayur Bhawan, Connaught Place, …
