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Insolvency and BankruptcyAugust 18, 2020Case LawsAT
Jurisdiction of Adjudicating Authority - withdrawal of approved Resolution Plan - after due deliberations, when the 1st Respondent/’Resolution Applicant’ had accepted the conditions of the ‘Resolution Plan’ especially keeping in mind the ingredients of Section 25(2)(h) of the ‘Code’ to the effect that ‘no change or supplementary information to the ‘Resolution Plan’ shall be accepted after the submission date of ‘Resolution Plan’ then it is not open to the 1st Respondent/’Resolution Applicant’ to take a ‘topsy turvy’ stance and is not to be allowed to withdraw the approved ‘Resolution Plan’. - AT
Jurisdiction of Adjudicating Authority - withdrawal of approved Resolution Plan - after due deliberations, when the 1st Respondent/’Resolution Applicant’ had accepted the conditions of the ‘Resolution Plan’ especially keeping in mind the ingredients of Section 25(2)(h) of the ‘Code’ to the effect that ‘no change or supplementary information to the ‘Resolution Plan’ shall be accepted after the submission date of ‘Resolution Plan’ then it is not open to the 1st Respondent/’Resolution Applicant’ to take a ‘topsy turvy’ stance and is not to be allowed to withdraw the approved ‘Resolution Plan’. - AT
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