Case Law Details
Case Name : State Bank of India & Ors. Vs Jyoti Structures Ltd. & Ors. (NCLAT Delhi)
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NCLAT
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State Bank of India & Ors. Vs Jyoti Structures Ltd. & Ors. (NCLAT Delhi)
NCLAT Delhi held that post approval of resolution plan Non-Fund Based [NFB] agreement has to be read in a manner to give effect to the resolution plan and not to make any clause of resolution plan otiose and unworkable.
Facts- Jyoti Structure Limited an Engineering Procurement Company (EPC) was admitted to Insolvency Resolution Process by order dated 04.07.2017. In the CIRP process of the Corporate Debtor, a Resolution Plan was submitted by one Sharad Sanghi. The Resolution Plan
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