Secured Creditor's Discrimination Claim Validated u/s 30(2)(e), Plan Not Set Aside, Applicant to Rectify Issues.

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Full Text of the Document

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....CIRP - discrimination against secured creditor - The Appellant a ‘Secured Financial Creditor’ has been discriminated with other ‘Secured Financial Creditors’, we hold that the ‘Resolution Plan’ is violative of Section 30(2) (e) of the ‘I&B Code’. However, we are not inclined to set aside the approved plan on such ground. The ‘Successful Resolution Applicant’ is given opportunity to remove the discrimination.....