The Appellant, who was the highest bidder with a Resolution Plan approved by the Committee of Creditors (COC), sought disposal of an application filed by the Resolution Professional before the Adjudicating Authority for approval of the Resolution Plan. The Resolution Professional filed an application under Section 31 of the Insolvency and Bankruptcy Code, 2016, on May 27, 2019, for approval of the Resolution Plan submitted by the Appellant, which had already been approved by the COC with the required majority. However, the Adjudicating Authority had not passed any order on it until the date of the appeal.
The Appellant, Surender Kumar Singhal, was the highest bidder with a Resolution Plan approved by the Committee of Creditors (COC). The Resolution Professional, Vikram Bajaj, filed an application under Section 31 of the Insolvency and Bankruptcy Code, 2016, on May 27, 2019, seeking approval of the Appellant's Resolution Plan, which had already been approved by the COC with the requisite majority. However, the Adjudicating Authority had not passed any order on the application. The Appellant filed an appeal seeking disposal of the application. The Resolution Professional also expressed grievance regarding the delay. The court noted the delay in the disposal of the application by the Adjudicating Authority.
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The Resolution Professional filed an…
The court disposed of the appeal with a…
The Appellant, who was the highest bidder with a Resolution Plan approved by the Committee of Creditors (COC), sought disposal of an application filed by the Resolution Professional before the Adjudicating Authority for approval of the Resolution Plan. The Resolution Professional filed an application under Section 31 of the Insolvency and Bankruptcy Code, 2016, on May 27, 2019, for approval of the Resolution Plan submitted by the Appellant, which had already been approved by the COC with the required majority. However, the Adjudicating Authority had not passed any order on it until the date of the appeal.
The Appellant, Surender Kumar Singhal, was the highest bidder with a Resolution Plan approved by the Committee of Creditors (COC). The Resolution Professional, Vikram Bajaj, filed an application under Section 31 of the Insolvency and Bankruptcy Code, 2016, on May 27, 2019, seeking approval of the Appellant's Resolution Plan, which had already been approved by the COC with the requisite majority. However, the Adjudicating Authority had not passed any order on the application. The Appellant filed an appeal seeking disposal of the application. The Resolution Professional also expressed grievance regarding the delay. The court noted the delay in the disposal of the application by the Adjudicating Authority.
The Resolution Professional filed an…
The court disposed of the appeal with a…