IBCArticle·1 August 2026
Resolution Plan rejected
By J the App
Executive Summary
The NCLT declined to approve the resolution plan and heldthat a resolution plan cannot confer the benefit of recoveries from avoidance transactions upon the Successful Resolution Applicant and found the CIRP process to be lacking in transparency.
Consequently, the Tribunal rejected the plan and directed liquidation of the corporate debtor.
Domain | Regulatory | IBC
Background
Corporate Insolvency Resolution Process...
Read the full article in the app
This is a premium article. Download J the App to read the complete content.