The appeal was filed against observations made by the Adjudicating Authority in paragraphs 28 & 39 of an order dated 27.03.2025, which approved the resolution plan submitted by the appellant. The appellant contended that these observations contradicted the approved resolution plan, which contemplated the release of personal and corporate guarantees upon payment of the debt.
The appeal was filed against paragraphs 28 & 39 of the impugned order dated 27.03.2025.
The resolution plan submitted by the appellant had been approved.
The resolution plan contemplated the release of personal and corporate guarantees upon payment of the debt.
The Committee of Creditors (CoC) had agreed to release the personal guarantees after receiving payment under the plan.
The observations made in paragraphs 28 & 39 of the impugned order were contrary to the terms of the resolution plan.
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The appeal was filed against observations made by the Adjudicating Authority in paragraphs 28 & 39 of an order dated 27.03.2025, which approved the resolution plan submitted by the appellant. The appellant contended that these observations contradicted the approved resolution plan, which contemplated the release of personal and corporate guarantees upon payment of the debt.
The appeal was filed against paragraphs 28 & 39 of the impugned order dated 27.03.2025.
The resolution plan submitted by the appellant had been approved.
The resolution plan contemplated the release of personal and corporate guarantees upon payment of the debt.
The Committee of Creditors (CoC) had agreed to release the personal guarantees after receiving payment under the plan.
The observations made in paragraphs 28 & 39 of the impugned order were contrary to the terms of the resolution plan.
Date of the order by the Adjudicating Authority…
Date of the letter from the Committee of…
Sign in to view related legal provisions.