https://www.taxtmi.com/caselaws?id=398771 The Supreme Court stayed the approval of the resolution plan by NCLT Kolkata Bench following an appeal by Bank of Baroda. In a dispute over the distribution of an arbitration award amount, the Tribunal allowed the first respondent to receive the amount but prohibited direct payment to the second respondent without further orders. Regarding the locus standi of the petitioner, the Tribunal decided to hear the application under sections 241-242 of the Companies Act due to the petitioner's stake in the first respondent company, ensuring a fair resolution of the legal issues at hand. en-us Thu, 12 Mar 2020 00:00:00 +0530 Wed, 23 Sep 2020 18:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398771 The Supreme Court stayed the approval of the resolution plan by NCLT Kolkata Bench following an appeal by Bank of Baroda. In a dispute over the distribution of an arbitration award amount, the Tribunal allowed the first respondent to receive the amount but prohibited direct payment to the second respondent without further orders. Regarding the locus standi of the petitioner, the Tribunal decided to hear the application under sections 241-242 of the Companies Act due to the petitioner's stake in the first respondent company, ensuring a fair resolution of the legal issues at hand. Case-Laws Insolvency and Bankruptcy Thu, 12 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398771