https://www.taxtmi.com/caselaws?id=447274 NCLAT Principal Bench set aside the Adjudicating Authority's order directing matter back to Committee of Creditors (CoC) for reconsideration of resolution plans. The Tribunal held that remanding to CoC was contrary to its earlier direction dated 09.02.2023, which had disapproved sending matter to CoC and instead directed the Adjudicating Authority to examine plan approval application within three months. NCLAT ruled that prolonging proceedings by seeking CoC's opinion served no purpose and set aside all consequential actions including subsequent CoC meetings. Appeal was allowed. en-us Mon, 18 Dec 2023 00:00:00 +0530 Fri, 22 Dec 2023 06:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447274 NCLAT Principal Bench set aside the Adjudicating Authority's order directing matter back to Committee of Creditors (CoC) for reconsideration of resolution plans. The Tribunal held that remanding to CoC was contrary to its earlier direction dated 09.02.2023, which had disapproved sending matter to CoC and instead directed the Adjudicating Authority to examine plan approval application within three months. NCLAT ruled that prolonging proceedings by seeking CoC's opinion served no purpose and set aside all consequential actions including subsequent CoC meetings. Appeal was allowed. Case-Laws Insolvency and Bankruptcy Mon, 18 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447274