Suspension of insolvency professional registration prevents continued Resolution Professional appointments and restricts interim stays that effectivel...
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Individual shareholders do not, merely by virtue of shareholding, qualify as aggrieved persons entitled to appeal approval of a corporate debtor's resolution plan. Allegations that post-approval modifications were fraudulent cannot expand standing unless supported by specific material. Homebuyers who have not independently challenged the resolution plan cannot contest it indirectly by supporting a shareholder's appeal. The shareholder's challenge to the approved resolution plan was therefore treated as not maintainable, and the related interlocutory applications were rejected.
Individual shareholders do not, merely by virtue of shareholding, qualify as aggrieved persons entitled to appeal approval of a corporate debtor's resolution plan. Allegations that post-approval modifications were fraudulent cannot expand standing unless supported by specific material. Homebuyers who have not independently challenged the resolution plan cannot contest it indirectly by supporting a shareholder's appeal. The shareholder's challenge to the approved resolution plan was therefore treated as not maintainable, and the related interlocutory applications were rejected.
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