This is an appeal against the order dated 09.02.2024 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court – VI), which approved the Resolution Plan submitted by the Appellant, Worldfa Exports Pvt. Ltd. The Appellant is aggrieved by the order because the reliefs, concessions, and waivers sought by the Successful Resolution Applicant (SRA) were not granted.
Worldfa Exports Pvt. Ltd., the Successful Resolution Applicant (SRA), filed a resolution plan which was approved by the Adjudicating Authority (National Company Law Tribunal). The SRA sought certain reliefs, concessions, and waivers as part of the resolution plan, but these were not granted by the Adjudicating Authority. The SRA appealed the decision, arguing that all past liabilities should be waived due to the approved resolution plan. The Adjudicating Authority referred to a Supreme Court judgment stating that claims not dealt with in the Resolution Plan do not survive after its approval. The Adjudicating Authority also noted that the SRA should file the necessary application before the appropriate Forum/Authority to avail the relief and concession. The appellant is
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The Adjudicating Authority (National Company…
The appeal aga…
This is an appeal against the order dated 09.02.2024 passed by the Adjudicating Authority (National Company Law Tribunal, New Delhi Bench, Court – VI), which approved the Resolution Plan submitted by the Appellant, Worldfa Exports Pvt. Ltd. The Appellant is aggrieved by the order because the reliefs, concessions, and waivers sought by the Successful Resolution Applicant (SRA) were not granted.
Worldfa Exports Pvt. Ltd., the Successful Resolution Applicant (SRA), filed a resolution plan which was approved by the Adjudicating Authority (National Company Law Tribunal). The SRA sought certain reliefs, concessions, and waivers as part of the resolution plan, but these were not granted by the Adjudicating Authority. The SRA appealed the decision, arguing that all past liabilities should be waived due to the approved resolution plan. The Adjudicating Authority referred to a Supreme Court judgment stating that claims not dealt with in the Resolution Plan do not survive after its approval. The Adjudicating Authority also noted that the SRA should file the necessary application before the appropriate Forum/Authority to avail the relief and concession. The appellant is
…The Adjudicating Authority (National Company…
The appeal aga…