Balaji Minerals and Ors. Vs. Essar Power M. P. Ltd. (Through Professional) and Ors. – NCLAT New Delhi

It is well settled that the commercial wisdom of the CoC is unjustifiable. Moreover, the liquidation value of the operational creditors is NIL and the amount which has been distributed to the CD in accordance with Section 53(1) shall have to be Nil as well, therefore, the resolution plan is not in violation of Section 30(2)(b) of the Code.

Balaji Minerals and Ors. Vs. Essar Power M. P. Ltd. (Through Professional) and Ors. – NCLAT New Delhi Read Post »