Scope of word “Material Irregularity” Supreme Court has held that the ‘commercial wisdom’ of the CoC has been given paramount status without any judicial intervention, for ensuring completion of the processes within the timelines prescribed by the IBC. It has been consistently held that […]
Situation-1: If a Resolution Plan is conditional/contingent in nature and the applicant had indicated in their resolution plan about exit midway, even if, the applicant would have been declared as a Successful Resolution Applicant, after following the due process of bidding and evaluation by CoC. Solution to Situation-1: The Adjudicating […]
If the Resolution Plan contains a clause that it can be modified with the 70% vote , Adjudicating Authority cannot interfere into the commercial wisdom of the CoC The appeal was preferred against the order passed by the Adjudicating Authority, wherein the appelant was seeking direction to R-21and R-22 to […]
Follow Us On