https://www.taxtmi.com/caselaws?id=296958 The Supreme Court considered the impact of an NCLT order on the requisite majority for passing a Resolution Plan under the Insolvency and Bankruptcy Code 2016. Despite the Resolution Plan being approved by 100% of the Committee of Creditors, the Court allowed the appellant to submit an affidavit detailing the NCLT order's potential effect on the majority needed for the Plan's approval. Both parties were given the opportunity to exchange affidavits, with the Court setting a hearing date for thorough consideration of the issue on 18 March 2021. en-us Wed, 10 Mar 2021 00:00:00 +0530 Thu, 12 Aug 2021 21:22:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=296958 The Supreme Court considered the impact of an NCLT order on the requisite majority for passing a Resolution Plan under the Insolvency and Bankruptcy Code 2016. Despite the Resolution Plan being approved by 100% of the Committee of Creditors, the Court allowed the appellant to submit an affidavit detailing the NCLT order's potential effect on the majority needed for the Plan's approval. Both parties were given the opportunity to exchange affidavits, with the Court setting a hearing date for thorough consideration of the issue on 18 March 2021. Case-Laws Insolvency and Bankruptcy Wed, 10 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=296958