Unregistered profit-sharing agreements cannot justify occupation of corporate debtor premises during CIRP; repossession by the Resolution Professional...
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Insolvency and BankruptcyDecember 17, 2022Case LawsAT
Approval of resolution plan with modification - Power of NCLT to modify the plan - Section 31 of the IBC - It is clear that mandate of legislation is either to approve the resolution plan or to reject. However, there is no provision for making alteration or modification in the resolution plan. - the learned Adjudicating Authority to some extent exceeded its jurisdiction in modifying/altering the conditions in the resolution plan - AT
Approval of resolution plan with modification - Power of NCLT to modify the plan - Section 31 of the IBC - It is clear that mandate of legislation is either to approve the resolution plan or to reject. However, there is no provision for making alteration or modification in the resolution plan. - the learned Adjudicating Authority to some extent exceeded its jurisdiction in modifying/altering the conditions in the resolution plan - AT
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