The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd. with a 74.41% voting share, as per Section 31(1) of the Insolvency and Bankruptcy Code, 2016. This plan was binding on the Corporate Debtor, its employees, members, creditors, guarantors, the Central Government, any State Government, and other stakeholders. The NCLT's order was affirmed by the National Company Law Appellate Tribunal (NCLAT). The appellant raised no substantial question of law.
The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd., which was supported by 74.41% of the Committee of Creditors (CoC). This approval was made under Section 31(1) of the Insolvency and Bankruptcy Code, 2016. The NCLT's order was subsequently affirmed by the National Company Law Appellate Tribunal (NCLAT). The appellant challenged these decisions, but the Supreme Court found no substantial question of law to justify interfering with the lower courts' rulings. The resolution plan included provisions for security expenses incurred by the Financial Creditor/West Bengal Industrial Development Corporation.
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The National Company Law Tribunal (NCLT)…
The Supreme Court dismissed the appeal against…
The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd. with a 74.41% voting share, as per Section 31(1) of the Insolvency and Bankruptcy Code, 2016. This plan was binding on the Corporate Debtor, its employees, members, creditors, guarantors, the Central Government, any State Government, and other stakeholders. The NCLT's order was affirmed by the National Company Law Appellate Tribunal (NCLAT). The appellant raised no substantial question of law.
The National Company Law Tribunal (NCLT) approved a resolution plan for Ramsarup Industries Ltd., which was supported by 74.41% of the Committee of Creditors (CoC). This approval was made under Section 31(1) of the Insolvency and Bankruptcy Code, 2016. The NCLT's order was subsequently affirmed by the National Company Law Appellate Tribunal (NCLAT). The appellant challenged these decisions, but the Supreme Court found no substantial question of law to justify interfering with the lower courts' rulings. The resolution plan included provisions for security expenses incurred by the Financial Creditor/West Bengal Industrial Development Corporation.
The National Company Law Tribunal (NCLT)…
The Supreme Court dismissed the appeal against…