Condonation of refiling delay refused where repeated defects, lack of diligence and vague explanations defeated the appeal against resolution plan app...
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Insolvency and BankruptcyDecember 24, 2022Case LawsAT
Approval of Resolution Plan - Appellants raised several objections against the Resolution Plan, as approved by the CoC, being discriminatory towards ‘Operational Creditors’ - Keeping in view the peculiar facts of the instant case that the Resolution Plan was approved by the CoC way back in 2019 and the Adjudicating Authority has approved the Plan on 01.06.2021 after a period of two years and the Plan has already been implemented, we do not see it a fit case to set the clock back - AT
Approval of Resolution Plan - Appellants raised several objections against the Resolution Plan, as approved by the CoC, being discriminatory towards ‘Operational Creditors’ - Keeping in view the peculiar facts of the instant case that the Resolution Plan was approved by the CoC way back in 2019 and the Adjudicating Authority has approved the Plan on 01.06.2021 after a period of two years and the Plan has already been implemented, we do not see it a fit case to set the clock back - AT
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