NCLAT rejected Resolution Plan submitted after Expiry of Deadline for Submission of Resolution Plan

Kotak Investment Advisors Limited Vs Krishna Chamadia (NCLAT Delhi) The issue under consideration is whether Resolution Plans submitted after the expiry of deadline for submission of Resolution Plan, without obtaining any CoC resolution to extend the deadline and issuing notice for inviting EoI from other potential resolution applicants is justified in law? In the instant case, the Adjudicating Authority has not given any finding on the issues raised in MA 1039 of 2019 by the Appellant, specifically regarding illegalities committed, in accepting the Resolution Plan of the successful Resolution...