This is an appeal against the order dated 23.08.2023 by which the Adjudicating Authority approved the Resolution Plan and allowed I.A. No. 659 of 2023 filed by the Resolution Professional. The Appellants, who are personal guarantors of the Corporate Debtor, are challenging the approval of the Resolution Plan. The Learned Counsel for the Appellant referred to Clause 7.1 of the Resolution Plan.
The appeal was filed against the Adjudicating Authority's order dated 2023-08-23, which approved a Resolution Plan. The appellants are personal guarantors of the Corporate Debtor and are challenging the approval of the Resolution Plan. The Resolution Plan is based on the Information Memorandum and other details available from the Resolution Professional. The Resolution Applicant has explored the corporate debtor and proposed the acquisition of the corporate debtor. The Resolution Applicant will take over the ongoing projects of the corporate debtor and complete them with the support of the Resolution Professional. The Resolution Applicant will acquire all the assets of the corporate debtor. The Learned Counsel for the Appellants submitted that the SRA has taken
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An application seeking condonation of delay of…
The Adjudicating Authority approved the…
This is an appeal against the order dated 23.08.2023 by which the Adjudicating Authority approved the Resolution Plan and allowed I.A. No. 659 of 2023 filed by the Resolution Professional. The Appellants, who are personal guarantors of the Corporate Debtor, are challenging the approval of the Resolution Plan. The Learned Counsel for the Appellant referred to Clause 7.1 of the Resolution Plan.
The appeal was filed against the Adjudicating Authority's order dated 2023-08-23, which approved a Resolution Plan. The appellants are personal guarantors of the Corporate Debtor and are challenging the approval of the Resolution Plan. The Resolution Plan is based on the Information Memorandum and other details available from the Resolution Professional. The Resolution Applicant has explored the corporate debtor and proposed the acquisition of the corporate debtor. The Resolution Applicant will take over the ongoing projects of the corporate debtor and complete them with the support of the Resolution Professional. The Resolution Applicant will acquire all the assets of the corporate debtor. The Learned Counsel for the Appellants submitted that the SRA has taken
…An application seeking condonation of delay of…
The Adjudicating Authority approved the…