NCLAT directs to Modifies Resolution Plan by compliance with provision of section 30(2)(b)(ii) of IBC [Read Order]
Resolution plan passed by the adjudicating authority should be in compliance with the provision of Section 30(2)(b)(ii) of Indian Bankruptcy Code (IBC)
By Aparna. M - On April 27, 2024 6:34 pm - 2 mins read
The Delhi bench of the National Company Law Appellate Tribunal ( NCLAT ) directed to modify the resolution plan passed by the adjudication authority by compliance with the provision of Section 30(2)(b)(ii) of Indian Bankruptcy Code ( IBC ). The facts of the case was that, Corporate Insolvency Resolution Process (CIRP) against the Corporate Debtor…
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