https://www.taxtmi.com/caselaws?id=449824 NCLAT Principal Bench set aside the Adjudicating Authority's order that rejected the Resolution Professional's voting summary on a Section 12A withdrawal application. The court held that the Resolution Professional, as CoC Chairman, was an aggrieved party when their decision that the 12A proposal lacked required 90% approval was overturned. The court distinguished the Regen Powertech SC judgment, finding the Resolution Professional's appeal maintainable as they were duty-bound to compute votes per statute. CIRP was revived for Estella Project only, excluding NCR Green Project, with fresh Form G to be issued within 90 days. en-us Fri, 16 Feb 2024 00:00:00 +0530 Tue, 20 Feb 2024 20:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449824 NCLAT Principal Bench set aside the Adjudicating Authority's order that rejected the Resolution Professional's voting summary on a Section 12A withdrawal application. The court held that the Resolution Professional, as CoC Chairman, was an aggrieved party when their decision that the 12A proposal lacked required 90% approval was overturned. The court distinguished the Regen Powertech SC judgment, finding the Resolution Professional's appeal maintainable as they were duty-bound to compute votes per statute. CIRP was revived for Estella Project only, excluding NCR Green Project, with fresh Form G to be issued within 90 days. Case-Laws Insolvency and Bankruptcy Fri, 16 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449824