https://www.taxtmi.com/highlights?id=56902 Contempt Jurisdiction - Approval of Resolution Plan - Undoubtedly, the conduct of DVI has not been bona fide. - DVI was not just seeking an extension of time but a re-negotiation of its resolution plan after its approval by the CoC. - However, it would not be appropriate to exercise the contempt jurisdiction of this Court - Since DVI is in appeal before the NCLAT, we express no opinion on the merits of the submission. The NCLAT will take a view on the tenability and merits of the submission of DVI that the conditions precedent under the resolution plan have not been fulfilled after hearing the parties. - SC en-us Thu, 25 Feb 2021 09:47:13 +0530 Thu, 25 Feb 2021 09:47:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=56902 Contempt Jurisdiction - Approval of Resolution Plan - Undoubtedly, the conduct of DVI has not been bona fide. - DVI was not just seeking an extension of time but a re-negotiation of its resolution plan after its approval by the CoC. - However, it would not be appropriate to exercise the contempt jurisdiction of this Court - Since DVI is in appeal before the NCLAT, we express no opinion on the merits of the submission. The NCLAT will take a view on the tenability and merits of the submission of DVI that the conditions precedent under the resolution plan have not been fulfilled after hearing the parties. - SC Highlights Insolvency and Bankruptcy Thu, 25 Feb 2021 09:47:13 +0530 https://www.taxtmi.com/highlights?id=56902