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Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Insolvency and BankruptcyDecember 15, 2022Case LawsAT
CIRP - Fairness of Resolution plan - appellant being Association of the ‘Homebuyers’ - plan challenged on various issued including, the ‘Resolution Plan’ amount being lower than the ‘Liquidation Value’, ‘exorbitant interest charges’ by the ‘Financial Creditors’ in their claims, denial of claims of the ‘Appellant’ etc. - This ‘Appellate Tribunal’, does not find ‘any material irregularity’ or ‘patent illegality’, in the ‘impugned order’ - AT
CIRP - Fairness of Resolution plan - appellant being Association of the ‘Homebuyers’ - plan challenged on various issued including, the ‘Resolution Plan’ amount being lower than the ‘Liquidation Value’, ‘exorbitant interest charges’ by the ‘Financial Creditors’ in their claims, denial of claims of the ‘Appellant’ etc. - This ‘Appellate Tribunal’, does not find ‘any material irregularity’ or ‘patent illegality’, in the ‘impugned order’ - AT
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