Resolution plan implementable as it doesn’t discriminate based on type of creditors

Shankar Mukherjee Vs Ravi Sethia (NCLAT Delhi) NCLAT Delhi held that the Resolution Plan does not discriminate based on the type of creditors to give preference to secured creditors both having first charge or having residual charges thus resolution plan is implementable and in exercise of commercial wisdom of CoC. Accordingly, appeal rejected as devoid of merits. Facts- The present appeal has been filed by the Appellants i.e. Shankar Mukherjee & Badri Kumar Tulsyan who are the Suspended Board of Directors of Suasth Healthcare Foundation (Corporate Debtor) under Section 61 of the Insolvenc...