Unsuccessful resolution applicant cannot challenge approved plan: NCLAT Chennai

M.K. Rajagopalan Vs S. Rajendran (NCLAT Chennai) The National Company Law Appellate Tribunal (NCLAT) Chennai addressed an application (IA No. 215 of 2023) by M.K. Rajagopalan seeking permission to appeal (Comp. App (AT) (CH) (INS.) No. 58 of 2023) against the National Company Law Tribunal (NCLT) Chennai’s order dated February 3, 2023. The NCLT had approved the resolution plan submitted by S. Rajendran, the second respondent, for Vasan Health Care Private Ltd. Rajagopalan, claiming to be a prospective resolution applicant who suffered due to the resolution process and whose objection to t...