The tribunal held that, the Resolution Plan was approved by 83.46% voting share of the CoC.
The National Company Law Appellate Tribunal (NCLAT) in New Delhi ruled that, in accordance with Section 43 of the Insolvency and Bankruptcy Code, 2016 (Code), only the Resolution Professional may file an application for the avoidance of preferential transactions. The Corporate Insolvency Resolution Process (CIRP) was initiated by order dated 07.03.2024 in response to an…
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