This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Prospective Resolution Applicant doesn’t have vested right to challenge approved resolution plan
Case Law Details
- Case Name
- Astral Agro Ventures Vs Vakati Balasubramanyam Reddy (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
Astral Agro Ventures Vs Vakati Balasubramanyam Reddy (NCLAT Delhi)
NCLAT Delhi held that Prospective Resolution Applicant or unsuccessful Resolution Applicant doesn’t have vested right to challenge a resolution process or an approved resolution plan. Accordingly, appeal is dismissed.
Facts- CIRP proceedings were initiated against Megi Agro Chem Ltd. This appeal is preferred by a Prospective Resolution Applicant (PRA) challenging an order the Adjudicating Authority (NCLT-V, Mumbai) dismissing its application, which it had taken out for the rejection of resolution plan sub...
Author Info
