16/02/2022

Resolution Professional is merely a facilitator – Aska Investments Pvt. Ltd. Vs. Ram Ratan Modi, RP of Duncan Industries Ltd. – NCLT Kolkata Bench

Adjudicating Authority held that it is the settled law that resolution professional is merely a facilitator. Resolution plan prepared by him is not binding upon the CoC. It is only the CoC which has to take the final call to approve the resolution plan or reject it. The approval of the Resolution Plan is in the domain of the Committee of Creditors and not that of Resolution Professional. Feasibility and viability of a resolution plan has to be seen by CoC in terms of Regulation 39 of the Insolvency and Bankruptcy Code, 2016.

Resolution Professional is merely a facilitator – Aska Investments Pvt. Ltd. Vs. Ram Ratan Modi, RP of Duncan Industries Ltd. – NCLT Kolkata Bench Read Post »

Claim has not been entertained in the insolvency resolution process, there shall be no bar to take appropriate legal remedy as permissible in law – Go Airlines (India) Ltd. Vs. Sovika Aviation Services Pvt. Ltd. & Ors. – NCLAT New Delhi

NCLAT holds that insofar as claim of the Appellant, which has not been entertained in the insolvency resolution proceeding, it is always open for the Appellant to take recourse to appropriate legal proceedings before appropriate forum as permissible in law. The fact that claim of the Appellant has not been entertained in the insolvency resolution process, there shall be no bar for the Appellant to take appropriate legal remedy as permissible in law. We make it clear that we have not expressed any opinion on the merits of the claim of the Appellant and it is for the appropriate forum to consider and take decision in accordance with law.

Claim has not been entertained in the insolvency resolution process, there shall be no bar to take appropriate legal remedy as permissible in law – Go Airlines (India) Ltd. Vs. Sovika Aviation Services Pvt. Ltd. & Ors. – NCLAT New Delhi Read Post »

Manharlal Shantilal Mehta (Personal Guarantor of K. K. Welding Ltd.) Vs. Asset Reconstruction Company (India) Ltd. Through the RP– Vinod Kumar Bukalsaria – NCLAT New Delhi

Login with GoogleOR Username Password Remember Me     Forgot Password In case you’ve already logged in, click here to

Manharlal Shantilal Mehta (Personal Guarantor of K. K. Welding Ltd.) Vs. Asset Reconstruction Company (India) Ltd. Through the RP– Vinod Kumar Bukalsaria – NCLAT New Delhi Read Post »

Scroll to Top