Former Directors of Corporate Debtor entitled to Resolution Plans to be discussed at COC meetings:SC

Vijay Kumar Jain Vs Standard Chartered Bank & Ors. (Supreme Court of India) Conclusion: The members of the suspended Board of Directors of the corporate debtor who wish to meaningfully participate in meetings held by the committee of creditors are entitled to get a copy of insolvency resolution plans from the resolution professional along with the notice of meetings. Held: In the present case, assessee prayed for directions to the resolution professional to provide all relevant documents including the insolvency resolution plans in question to members of the suspended Board of Directors of...