NCLT cannot direct CoC to Consider Suspended Management’s Settlement Proposal without granting Opportunity to SRA: NCLAT [Read Order]

NCLT cannot direct CoC to Consider Suspended Management's Settlement Proposal without granting Opportunity to SRA, rules NCLAT
NCLT - National Company Law Tribunal - Committee of Creditors - CoC - CoC considerations - Suspended management settlement - taxscan

The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) held that the National Company Law Tribunal ( NCLT ) cannot direct Committee of Creditors ( “CoC” ) consider suspended management’s settlement proposal without granting opportunity to Successful Resolution Applicant ( “SRA” ). The Resolution Plan submitted by the Appellant was…

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