The case involves an appeal against an order by the Adjudicating Authority that rejected a resolution plan. The rejection was based on the ground that the payout to a dissenting financial creditor was not in accordance with the IBC Code. The appellant's counsel argues that the Adjudicating Authority erred in rejecting the resolution plan.
The Adjudicating Authority rejected a resolution plan because the payout to a dissenting financial creditor was not in accordance with the IBC Code. The appellant, Vinay Goel And Consortium Members, filed an appeal against this rejection. The respondent, Nibula Print and Pack Pvt. Ltd. & Ors., argues that the plan provides payment to the dissenting financial creditor on the security interest, but this has not been accepted by the Adjudicating Authority. The court has issued a notice for replies and rejoinders and has listed the appeal for further hearing.
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Learned counsel for the appellant submits that…
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The case involves an appeal against an order by the Adjudicating Authority that rejected a resolution plan. The rejection was based on the ground that the payout to a dissenting financial creditor was not in accordance with the IBC Code. The appellant's counsel argues that the Adjudicating Authority erred in rejecting the resolution plan.
The Adjudicating Authority rejected a resolution plan because the payout to a dissenting financial creditor was not in accordance with the IBC Code. The appellant, Vinay Goel And Consortium Members, filed an appeal against this rejection. The respondent, Nibula Print and Pack Pvt. Ltd. & Ors., argues that the plan provides payment to the dissenting financial creditor on the security interest, but this has not been accepted by the Adjudicating Authority. The court has issued a notice for replies and rejoinders and has listed the appeal for further hearing.
Learned counsel for the appellant submits that…
The case is li…
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