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Past Promoter or Director Role No Bar for Submitting Resolution Plan: NCLAT
Case Law Details
- Case Name
- Vishram Narayan Panchpor Vs Committee of Creditors (NCLAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLAT
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Vishram Narayan Panchpor Vs Committee of Creditors (NCLAT Delhi)
Introduction: The National Company Law Tribunal (NCLT) Mumbai Bench-I faced an appeal challenging its order in the case of Vishram Narayan Panchpor vs Committee of Creditors. The appellant, Mr. Mahesh Mathai, an ex-director of ‘M/s. Blue Frog Media Private Limited,’ sought approval for a Resolution Plan rejected under Section 29A of the Insolvency and Bankruptcy Code (IBC). The central issue revolved around Mr. Mathai’s eligibility and the interpretation of Section 29A.
Detailed Analysis: The ca...
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