01/11/2021

Adjudicating Authority cannot maintain any application for modification or implementation of any condition post approval of a Resolution Plan – G.P. Global Energy Pvt. Ltd. Vs. Mr. Ani Kohli RP for Tirupati Infraprojects Pvt. Ltd. – NCLT Principal Bench

The AA held that the first issue is regarding the maintainability of this application post approval of the Resolution Plan without any conditions which is filed under Rule 11 of NCLT Rules. In this context it is reiterated that the Resolution Plan was approved on 04.01.2020 which provides that a Resolution Plan should be unconditional thus, the Applicant cannot raise an objection or try to modify at this stage post approval by filing this application. The plea taken by the Applicant cannot be accepted that during the pendency of the applications filed by the applicant in relation to the waivers and extension of time for making payment. The Applicant cannot be exempted for non-payment as per the payment schedule provided in the Resolution Plan and after undertaking to pay.

Adjudicating Authority cannot maintain any application for modification or implementation of any condition post approval of a Resolution Plan – G.P. Global Energy Pvt. Ltd. Vs. Mr. Ani Kohli RP for Tirupati Infraprojects Pvt. Ltd. – NCLT Principal Bench Read Post »

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