https://www.taxtmi.com/caselaws?id=313669 The SC set aside NCLAT's judgment rejecting a resolution plan under Section 29A(f) of IBC due to applicant's ineligibility. Following BSE's communication dated 16 February 2021 lifting restraint status on appellants and availability of substantially higher offers to CoC, the Court permitted appellants to submit fresh resolution plan and EoI within thirty days. Bank guarantees and earnest money from original plan to be returned to facilitate fresh submission. CIRP completion period extended by sixty days. RP directed to file fresh application before adjudicating authority for resolution plan approval under Section 31 IBC after completing process. en-us Fri, 09 Dec 2022 00:00:00 +0530 Sat, 27 Apr 2024 15:10:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313669 The SC set aside NCLAT's judgment rejecting a resolution plan under Section 29A(f) of IBC due to applicant's ineligibility. Following BSE's communication dated 16 February 2021 lifting restraint status on appellants and availability of substantially higher offers to CoC, the Court permitted appellants to submit fresh resolution plan and EoI within thirty days. Bank guarantees and earnest money from original plan to be returned to facilitate fresh submission. CIRP completion period extended by sixty days. RP directed to file fresh application before adjudicating authority for resolution plan approval under Section 31 IBC after completing process. Case-Laws Insolvency and Bankruptcy Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313669