commercial wisdom
NCLAT cannot direct modifications of claims once the Resolution Plan is approved
In instant matter, the appellants filed an appeal challenging the NCLT order approving the Resolution Plan approved by the CoC. The NCLAT held that once Resolution plan is approved by CoC, it cannot direct modifications of claims to Resolution Plan as the Tribunal does not have residual equity-based jurisdiction.
NCLAT | In last meeting of CoC, unreasonable pushed in ‘success fee’ appears like an afterthought-Affirms proportionate distribution
National Company Law Appellate Tribunal (NCLAT): The Coram of Justice A.I.S. Cheema, Officiating Chairperson and Alok Srivastava, Technical Member while dismissing an