https://www.taxtmi.com/caselaws?id=751221 The NCLAT Principal Bench rejected an appeal seeking exclusion of lease land from corporate debtor's assets during resolution plan implementation. The landowner-appellant allegedly obstructed the resolution plan by preventing access to essential facilities. The tribunal held that since the resolution plan was upheld with granted liberty, both parties must act pursuant to that liberty. As the application remained pending before the adjudicating authority with only interim directions issued, no grounds existed to entertain the appeal. The authority was directed to consider the tribunal's judgment in Shristi Infrastructure Development Corporation Limited case while disposing of the application. en-us Thu, 04 Apr 2024 00:00:00 +0530 Wed, 10 Apr 2024 09:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=751221 The NCLAT Principal Bench rejected an appeal seeking exclusion of lease land from corporate debtor's assets during resolution plan implementation. The landowner-appellant allegedly obstructed the resolution plan by preventing access to essential facilities. The tribunal held that since the resolution plan was upheld with granted liberty, both parties must act pursuant to that liberty. As the application remained pending before the adjudicating authority with only interim directions issued, no grounds existed to entertain the appeal. The authority was directed to consider the tribunal's judgment in Shristi Infrastructure Development Corporation Limited case while disposing of the application. Case-Laws Insolvency and Bankruptcy Thu, 04 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=751221