TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of NCLAT upheld CoC's decision to reject appellant's late resolution plan submission in CIRP proceedings. CoC had already initiated voting on three existing plans when appellant submitted request on 13.07.2023 followed by plan on 23.07.2023. CoC's deliberation revealed appellant's non-binding bid of Rs.23 crores through Phoenix ARC had expired, raising doubts about resolution integrity. Pinax's resolution plan secured 97% vote share during 19.07.2023-11.08.2023 voting period. NCLAT found no grounds to interfere with CoC's commercial wisdom under Section 61(3) of IBC, affirming Adjudicating Authority's approval dated 20.12.2024. Appeal dismissed as appellant failed to demonstrate procedural violations or legal infirmity in CoC's decision-making process.
TaxTMI 
TaxTMI 
