Resolution plan set aside as applicant declared as wilful defaulter: NCLT Mumbai

Bank of India Vs Vishal Ghisulal Jain & Ors. (NCLT Mumbai) NCLT Mumbai set aside the resolution plan submitted by the respondent as Resolution Professional withhold the information of Resolution Applicant, being declared as wilful defaulter prior to submission of resolution plan, from the COC. Facts- The present Application has been preferred by the Bank of India, one of the members of CoC with a prayer to declare the plan submitted by the suspended director of Corporate Debtor, Mr. Ankit Wadhwa (Respondent No.6) as void-ab-initio on the ground of his being ineligible in terms of Section 2...