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Adjudicating Authority not empowered to modify conditions in resolution plan
Case Law Details
- Case Name
- Mathuraprasad C Pandey Vs Partiv Parikh (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Mathuraprasad C Pandey Vs Partiv Parikh (NCLAT Delhi)
NCLAT Delhi held that as per provisions of section 31 of Insolvency & Bankruptcy Code, 2016, Adjudicating Authority is empowered to either accept or reject the resolution plan. Adjudicating Authority is not empowered to modify/ alter the conditions in the resolution plan.
Facts-
The appellant, Nandish Patel, in the capacity of operational creditor filed the application u/s. 9 of the IBC Code which was admitted in the month of August, 2019 and Interim Resolution Professional namely Mr. Parthiv Parikh (IRP) was appointed ...
Author Info
