The case involves an appeal against the Adjudicating Authority's decision regarding a Resolution Plan. The Appellant contends that the approved Resolution Plan was not properly reviewed by the Operational Creditors, nor were its details discussed by the Committee of Creditors. The Appellant also alleges discrimination between Financial Creditors and Operational Creditors, as a 'NIL' amount was allocated to most Operational Creditors except one.
The Consolidated Engineering Company filed an appeal against the Adjudicating Authority's decision regarding a Resolution Plan. The appellant argued that the approved Resolution Plan was not reviewed by the Operational Creditors, nor were its details discussed by the Committee of Creditors. The appellant also claimed that a 'NIL' amount was allocated to most Operational Creditors, except one, leading to discrimination between Financial and Operational Creditors. The Adjudicating Authority had not yet approved the Resolution Plan at the time of the appeal. The appellant's counsel submitted that the approved Resolution Plan was neither gone through by any of the ‘Operational Creditors' nor details thereof discussed by the ‘Committee of Creditors' while approving the
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The case involves an appeal against the Adjudicating Authority's decision regarding a Resolution Plan. The Appellant contends that the approved Resolution Plan was not properly reviewed by the Operational Creditors, nor were its details discussed by the Committee of Creditors. The Appellant also alleges discrimination between Financial Creditors and Operational Creditors, as a 'NIL' amount was allocated to most Operational Creditors except one.
The Consolidated Engineering Company filed an appeal against the Adjudicating Authority's decision regarding a Resolution Plan. The appellant argued that the approved Resolution Plan was not reviewed by the Operational Creditors, nor were its details discussed by the Committee of Creditors. The appellant also claimed that a 'NIL' amount was allocated to most Operational Creditors, except one, leading to discrimination between Financial and Operational Creditors. The Adjudicating Authority had not yet approved the Resolution Plan at the time of the appeal. The appellant's counsel submitted that the approved Resolution Plan was neither gone through by any of the ‘Operational Creditors' nor details thereof discussed by the ‘Committee of Creditors' while approving the
…Learned counsel for the Appellant submits that…
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