This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Rejection of Resolution Plan Without Hearing Violates Natural Justice
Case Law Details
- Case Name
- Essar (India) Ltd Vs Prabhat Technologies (India) Ltd (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
Essar (India) Ltd Vs Prabhat Technologies (India) Ltd (NCLAT Delhi)
NCLAT Delhi held that rejection of approved resolution plan on account of alleged fraud without giving an opportunity to resolution applicant to explain its position is against the principle of natural justice. Accordingly, matter remanded back.
Facts- The Committee of Creditors had approved the subject resolution plan dated 23.10.2020 in the 9th CoC Meeting with an overwhelming majority of 98.15%. on 07.11.2020. However, vide the Impugned Order dated 09.01.2024 passed by National Company Law Tribunal, Mumbai ...
Author Info
