NCLT Rejection of Resolution Plan Appealable Under IBC Framework: Kerala HC

K. Sunil Kumar Vs Union of India (Kerala High Court) Two writ petitions were filed before the Kerala High Court challenging an order dated 21.08.2025 passed by the National Company Law Tribunal (NCLT), Kochi Bench, in IA (IBC)(Plan)/04/KOB/2025 in CP(IBC)/20/KOB/2023. The impugned order rejected a resolution plan submitted by the Resolution Professional during the corporate insolvency resolution process of the concerned company and directed that the Corporate Debtor, the applicant in the Section 7 petition, the Resolution Professional, and the secured financial creditor be heard further to arr...