NCLAT Quashed Insolvency Order as Creditor Agrees to Fresh Window for Repayment Plan Submission

Satheesh Babu V.K Vs Dileep K.P (NCLAT Chennai) These proceedings comprise a batch of six company appeals filed under Section 61 of the Insolvency and Bankruptcy Code, 2016, before the National Company Law Appellate Tribunal, Chennai. The primary appeals—Comp App (AT) (CH) (Ins) Nos. 424, 425, 426, and 427 of 2023—were preferred by four personal guarantors who challenged a common order dated 13.10.2023 passed by the Adjudicating Authority. The impugned order arose from applications filed by the Resolution Professional under Section 114 of the Code, read with Regulations 20 and 22 of the 20...