NCLT's Resolution Plan approval order appealable within 45 days; Respondents can't challenge approved plan after delay.

NCLT's Resolution Plan approval order appealable within 45 days; Respondents can't challenge approved plan after delay. https://www.taxtmi.com/highlights?id=84110 The High Court held that the order passed by NCLT approving the Resolution Plan u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 is an appealable order u/s 61, with a limitation period of 30 days + 15 days to file an appeal before NCLAT. As the respondents failed to challenge the NCLT order within the prescribed time, they cannot take a stand contrary to the approved Resolution Plan. Consequently, the writ petition was allowed. en-us Thu, 19 Dec 2024 08:47:41 +0530 Thu, 19 Dec 2024 08:47:41 +0530 TaxTMI RSS Generator NCLT's Resolution Plan approval order appealable within 45 days; Respondents can't challenge approved plan after delay. https://www.taxtmi.com/highlights?id=84110 The High Court held that the order passed by NCLT approving the Resolution Plan u/s 31(1) of the Insolvency and Bankruptcy Code, 2016 is an appealable order u/s 61, with a limitation period of 30 days + 15 days to file an appeal before NCLAT. As the respondents failed to challenge the NCLT order within the prescribed time, they cannot take a stand contrary to the approved Resolution Plan. Consequently, the writ petition was allowed. Highlights IBC Thu, 19 Dec 2024 08:47:41 +0530 https://www.taxtmi.com/highlights?id=84110