Rejection of resolution plan by CoC after discussion justifiable: NCLAT Delhi

Sanjeev Agarwal & Anr. Vs Avishek Gupta & Ors. (NCLAT Delhi) NCLAT Delhi held that rejection of resolution plan of appellant justified as CoC deliberated and discussed the Resolution Plan of the Appellant. Thus, resolution plan with 97% vote share of CoC rightly approved. Facts- By an order dated 22.07.2022, Corporate Insolvency Resolution Process (“CIRP”) proceedings against the CD commenced. In pursuance of the decision of the Committee of Creditors (“CoC”) Form-G was published on 23.10.2022 and the last date for receiving of Expression of Interest (“EoI”) was 08.11.2022....