Operational Creditor cannot be Paid through Partly Paid ‘Redeemable Preference Shares’: NCLAT
Operational Creditor cannot be paid through partly paid 'Redeemable Preference Shares', rules NCLAT
By Kalyani B. Nair - On April 22, 2024 5:30 pm - 2 mins read
The New Delhi Bench of the National Company Law Appellate Tribunal ( NCLAT ) observed that the Operational Creditor cannot be paid through partly paid ‘Redeemable Preference Shares’. The Appeal has been filed by the Operational Creditor challenging the order dated 09.11.2023 passed by National Company Law Tribunal, by which order Resolution Plan submitted by…
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