Six operational creditors filed applications seeking to intervene in the resolution plan approval process for Jaiprakash Associates Limited, arguing that their claims were partially admitted and they were denied access to the resolution plan.
Six operational creditors filed applications to intervene in the resolution plan approval process.
The operational creditors' claims were partially admitted by the Resolution Professional.
The operational creditors were denied access to the Resolution Plan and related documents.
The Resolution Professional contended that the Resolution Plan is confidential and cannot be shared with non-members of the Committee of Creditors.
The Committee of Creditors approved the Resolution Plan with a 93.81% voting share.
The NCLT held that operational creditors are not entitled to access the Resolution Plan before its approval.
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Six operat…
Corporate Deb…
Six operational creditors filed applications seeking to intervene in the resolution plan approval process for Jaiprakash Associates Limited, arguing that their claims were partially admitted and they were denied access to the resolution plan.
Six operational creditors filed applications to intervene in the resolution plan approval process.
The operational creditors' claims were partially admitted by the Resolution Professional.
The operational creditors were denied access to the Resolution Plan and related documents.
The Resolution Professional contended that the Resolution Plan is confidential and cannot be shared with non-members of the Committee of Creditors.
The Committee of Creditors approved the Resolution Plan with a 93.81% voting share.
The NCLT held that operational creditors are not entitled to access the Resolution Plan before its approval.
Six operat…
Corporate Deb…