Contingencies as part of resolution plan justifiable: NCLAT Delhi

Anuj Gaur & Ors Vs Rabindra Kumar Mintri (NCLAT Delhi) NCLAT Delhi held that contingencies as part of resolution plan justified as resolution plan complies with CIRP Regulations, 2016, as well as Section 30(2)(b) of the Insolvency and Bankruptcy Code. Facts- The corporate debtor, Som Resorts Pvt Ltd. is engaged in the business of development of Real Estate Project. The corporate debtor started a Project. Land of said Project has been allotted by UP Housing and Development Board (Uttar Pradesh Awas Evam Vikas Parishad). The promoters carried out constructions in violation of approved buildi...