Profits during CIRP can be allocated to Financial Creditors when RFRP and Resolution Plan are Silent: NCLT [Read Order]
Profits during CIRP can be allocated to Financial Creditors when RFRP and Resolution Plan are Silent, rules NCLT
By Kalyani B. Nair - On March 18, 2024 1:02 pm - 2 mins read
The Mumbai Bench of the National Company Law Tribunal ( NCLT ) observed that the profits during corporate insolvency resolution process ( CIRP ) can be allocated to financial creditors when request for resolution plans ( RFRP ) and resolution plan are silent. The instant Application has been filed by the Financial Creditors of Cicil Biochem…
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