Power vested on RP u/s 25(1) of IBC to Reject CoC’s Proposal for Renewal of Bank Guarantees by CD: NCLAT

Power vested on RP u/s 25(1) of IBC to Reject CoC's Proposal for Renewal of Bank Guarantees by CD:, rules NCLAT
Corporate Debtor - NCLAT - Renewal of Bank Guarantees - NCLAT Case Law - taxscan

The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) observed that power is vested on Resolution Professional under Section 25(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) to reject Committee of Creditors (CoC’s) Proposal for Renewal of Bank Guarantees by Corporate Debtor. The point which falls for consideration in the Appeal is…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1599 + GST for 1 year

Subscribe Now

taxscan-loader