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No modification possible in Information Memorandum prepared based on Resolution Plan submitted and approved by CoC
Case Law Details
- Case Name
- Supriya Singh Vs Ansal Urban Condominiums Pvt. Ltd. (NCLAT Delhi)
- Appeal Number
- Only available for paid members
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- NCLAT
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Supriya Singh Vs Ansal Urban Condominiums Pvt. Ltd. (NCLAT Delhi)
Conclusion: Information Memorandum prepared by the Resolution Professional based on which the Resolution Plan approved by the CoC, could not be modified as it was well settled position of law that the Resolution Plan, duly approved by the COC as per their commercial wisdom had a very limited scope of judicial review and which was circumscribed by the provisions contained in Section 31 of the Code.
Held: Assessee had entered into several flat buyer’s Agreements with the Corporate Debtor on various dates, unde...
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