Generate professional replies to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Step 1 – Issue Identification & Review
The AI analyses your query, notice, order, or uploaded documents and identifies the key issues involved.
• Review the issues identified by the AI • Add, edit, remove, or refine issues as required
Step 2 – Draft Generation
Once you approve the issues, the AI performs issue-wise legal research and prepares a structured draft response.
• Relevant statutory provisions • Judicial precedents and Supreme Court, High Court and other citations • Issue-wise legal analysis • Practical arguments and supporting content • Professionally structured draft ready for further review.
Resolution Plan Overturned Due to Procedural Errors; Matter Remanded for Reconsideration Under Companies Act and Bankruptcy Code. The NCLAT set aside the NCLT's order approving the Resolution Plan due to procedural violations, specifically the involvement of a Single Member contrary ...
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Resolution Plan Overturned Due to Procedural Errors; Matter Remanded for Reconsideration Under Companies Act and Bankruptcy Code.
The NCLAT set aside the NCLT's order approving the Resolution Plan due to procedural violations, specifically the involvement of a Single Member contrary to Section 419(3) of the Companies Act 2013 and non-compliance with Section 30(2) of the Insolvency and Bankruptcy Code 2016. The matter was remanded to the NCLT for reconsideration. The SC declined to entertain the appeal at this stage, preserving the rights of all parties to present their case before the NCLT. The appeal was disposed of, allowing parties to approach the NCLT for further proceedings. All pending applications were resolved accordingly.
Issues Involved: The issues involved in the judgment are the validity of the order of the National Company Law Tribunal (NCLT) approving the Resolution Plan and the compliance with relevant provisions of the Companies Act 2013 and the Insolvency and Bankruptcy Code 2016.
Validity of NCLT Order: The National Company Law Appellate Tribunal (NCLAT) set aside the NCLT's order approving the Resolution Plan due to it being passed by a Single Member of the NCLT in violation of Section 419(3) of the Companies Act 2013. Additionally, the NCLAT noted that the Single Member did not consider the circumstances required under Section 30(2) of the Insolvency and Bankruptcy Code 2016.
Representation during Hearing: During the hearing, Mr. Gaurav Agarwal, senior counsel, appeared for the appellant, while Mr. R. Venkataramani, Attorney General for India, represented the fourth respondent, the successful Resolution Applicant.
Substantial Steps Taken: It was argued that significant actions were taken following the approval order, including the settlement of financial creditors' dues. These matters, crucial for consideration, will be reviewed by the NCLT when the case is remanded back to it.
Order of Remand: As the NCLAT's order was a remand, the Supreme Court did not entertain the appeal at the present stage, preserving all rights and contentions of the parties to be presented before the NCLT. The parties were granted the liberty to approach the NCLT promptly for further proceedings and orders in line with the directions provided.
Disposition of Appeal: The appeal was disposed of accordingly, with any pending applications also being resolved as a consequence of the judgment.
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