Resolution plan rightly rejected due to non-serious and casual conduct of resolution applicant

Cimco Projects Ltd. & Ors. Vs Anup Kumar (NCLAT)

Held that CIRP cannot be allowed to continue for indefinite period. Refusal to approve the resolution plan due to non-serious, casual and non-diligent conduct of the resolution applicant is within the four corners of law.

Facts-

Corporate insolvency resolution process (CIRP) of the corporate debtor was initiated. Accordingly, the resolution plan submitted by the Appellant was approved in the 10th Committee of Cred

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