The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, concerning M/s. SARE Realty Projects Private Limited. The CoC had previously decided on liquidation after five meetings, with a voting share of 88.48%, meeting the criteria under Section 33(2) of the Code. An earlier order by the NCLAT addressed the Adjudicating Authority's approach to liquidation decisions, emphasizing that the CoC has the power to liquidate the Corporate Debtor before confirmation of a resolution plan, provided it meets the voting share requirements. The NCLAT's decision was based on the Sunil S. Kakkad case, which was affirmed by the Supreme Court.
M/s. SARE Realty Projects Private Limited is the Corporate Debtor in this case. The Committee of Creditors (CoC) held five meetings and decided to liquidate the Corporate Debtor with a voting share of 88.48%. An earlier order by the NCLAT addressed the Adjudicating Authority's approach to liquidation decisions, emphasizing that the CoC has the power to liquidate the Corporate Debtor before confirmation of a resolution plan, provided it meets the voting share requirements. The NCLAT's decision was based on the Sunil S. Kakkad case, which was affirmed by the Supreme Court. The application was filed under Section 9 of the IBC, 2016. The issuance of notice under Section 65 was stayed by the Court. The Adjudicating Authority did not find any reason for forming an opinion
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Order passed in Company Appeal (AT) (Ins.) No.…
Appeal filed by Sunil…
The case involves an application under Section 9 of the Insolvency and Bankruptcy Code (IBC), 2016, concerning M/s. SARE Realty Projects Private Limited. The CoC had previously decided on liquidation after five meetings, with a voting share of 88.48%, meeting the criteria under Section 33(2) of the Code. An earlier order by the NCLAT addressed the Adjudicating Authority's approach to liquidation decisions, emphasizing that the CoC has the power to liquidate the Corporate Debtor before confirmation of a resolution plan, provided it meets the voting share requirements. The NCLAT's decision was based on the Sunil S. Kakkad case, which was affirmed by the Supreme Court.
M/s. SARE Realty Projects Private Limited is the Corporate Debtor in this case. The Committee of Creditors (CoC) held five meetings and decided to liquidate the Corporate Debtor with a voting share of 88.48%. An earlier order by the NCLAT addressed the Adjudicating Authority's approach to liquidation decisions, emphasizing that the CoC has the power to liquidate the Corporate Debtor before confirmation of a resolution plan, provided it meets the voting share requirements. The NCLAT's decision was based on the Sunil S. Kakkad case, which was affirmed by the Supreme Court. The application was filed under Section 9 of the IBC, 2016. The issuance of notice under Section 65 was stayed by the Court. The Adjudicating Authority did not find any reason for forming an opinion
…Order passed in Company Appeal (AT) (Ins.) No.…
Appeal filed by Sunil…