Shareholder Has ‘No Locus Standi’ to Challenge Resolution Plan: NCLAT Chennai

Ramesh Kesavan Vs CA Jasin Jose (NCLAT Chennai) In a recent judgment, the National Company Law Appellate Tribunal (NCLAT) in Chennai delivered a significant ruling regarding the rights of shareholders to challenge resolution plans in insolvency proceedings. The case, titled Ramesh Kesavan Vs CA Jasin Jose, sheds light on the extent of shareholders’ involvement in the resolution process under the Insolvency and Bankruptcy Code, 2016. The appellant, Ramesh Kesavan, who is both a promoter and suspended director of the corporate debtor company, filed an appeal against the order dated 13th Oc...