Search Results for Tag : Committee of Creditors

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Lenders Having Vested Interest in Debtor shouldn’t be Part of Creditors’ Panel: NCLT(15.04.2019)

National Company Law Tribunal (NCLT), Chennai Bench has held that a party having a vested interest /relation with a corporate debtor should not be a p.....

Tags : National Company Law Tribunal, Committee of Creditors

SC: NCLT/NCLAT Cannot Interfere with Commercial Wisdom of Committee of Creditors(11.03.2021)

Supreme Court has reiterated that the National Company Law Tribunal (NCLT) or the National Company Law Appellate Tribunal (NCLAT) cannot interfere wit.....

Tags : Supreme Court, Commercial Wisdom of Committee of Creditors

NCLAT: Resolution Professional Cannot Withhold Any Plan and Refuse to Submit Before CoC(12.04.2022)

National Company Law Appellate Tribunal, has observed that Resolution Professional of its own cannot withhold any plan and reject to submit the same b.....

Tags : National Company Law Appellate Tribunal, Resolution Professional, Committee of Creditors

NCLT: Committee of Creditors Are Competent to Revise Approved Fees of Resolution Professional(09.05.2022)

National Company Law Appellate Tribunal has ruled that the Committee of Creditors is fully competent to revise its earlier approval of the fees of the.....

Tags : National Company Law Appellate Tribunal, Committee of Creditors, Resolution Professional

NCLAT: COC's Decision For Liquidation Is Open To Judicial Review By NCLT And NCLAT(19.10.2022)

National Company Law Appellate Tribunal, Delhi has ruled that when the Committee of Creditors (CoC) decides to liquidate the Corporate Debtor, the dec.....

Tags : National Company Law Appellate Tribunal, Committee of Creditors, Corporate Debtor, liquidation

SC: Principle of Commercial Wisdom Doesn’t Validate CoC’s Decision Taken in Contravention of Law(08.05.2023)

Supreme Court has held that the principle of Commercial wisdom cannot be used to validate the decision of Committee of Creditors (CoC) which was taken.....

Tags : Supreme Court, Commercial Wisdom, Committee of Creditors

SC: Admission of Claims After Acceptance of RP by CoC will Make CIRP an Endless Process(12.09.2023)

Supreme Court has held that if claims are admitted after resolution plan (RP) has been accepted by the Committee of Creditors (COC) under Insolvency a.....

Tags : Supreme Court, CIRP, Resolution Plan, Committee of Creditors, Claims

SC: Closer Examination of RP’s Feasibility if Plan Envisages Use of Asset Owned By Statutory Body(15.02.2024)

SC while observing that normally resolution plan’s feasibility is best decided by the commercial wisdom of Committee of Creditors, has held that when .....

Tags : Supreme Court, Resolution Plan, Committee of Creditors

Mad. HC: Juri. Akin to Revisional Juri. Must be Exercised by Adj. Authority to Assess Correctness(10.06.2024)

Mad. HC has observed that even though Adjudicating Authority may not sit in appeal over commercial wisdom of Committee of Creditors, still it is requi.....

Tags : Madras High Court, Committee of Creditors, Adjudicating Authority

Supreme Court Refuses to Restrain Formation of CoC for Byju’s(21.08.2024)

Supreme Court has refused to pass an order restraining formation of a Committee of Creditors by Resolution Professional for Byju's in the insolvency p.....

Tags : Supreme Court, Committee of Creditors, Resolution Professional, Byju's

NCLAT: Authority Can’t Pass Adverse Remarks against RP Performing Duties as Per CoC’s Instruction(05.12.2024)

NCLAT New Delhi bench has held that the Adjudicating Authority cannot pass adverse remarks against the Resolution Professional who is performing dutie.....

Tags : NCLAT New Delhi, Adverse Remarks, Committee of Creditors

NCLAT: Resolution Plan Approved by Committee of Creditors is Binding on All Stakeholders(20.12.2024)

NCLAT New Delhi bench has held that Resolution Plan approved by the Committee of Creditors (CoC) shall be binding on all the stakeholders including th.....

Tags : NCLAT New Delhi, Committee of Creditors, Resolution Plan

SC: RP Containing Proposed Combination Should be Placed before CoC after Approval by CCI(31.01.2025)

Supreme Court by a 2:1 majority has observed that a resolution plan containing a proposed combination under the Insolvency and Bankruptcy Code, 2016 s.....

Tags : Supreme Court, Resolution Plan, Committee of Creditors

NCLAT: Post-Submission, CoC Can’t Remit Approved Resolution Plan(21.03.2025)

NCLAT New Delhi bench has held that Committee of Creditors (CoC) cannot remit Resolution Plan for fresh consideration once it has been approved by CoC.....

Tags : NCLAT New Delhi, Committee of Creditors, Adjudicating Authority

NCLAT: Can’t Reject App. for Approval of RP Solely on Basis of Withdrawal of Consent by CoC Members(09.05.2025)

NCLAT New Delhi bench has held that there cannot be rejection of an application seeking approval of a Resolution Plan (RP) merely on the basis of with.....

Tags : NCLAT New Delhi, Resolution Plan, Committee of Creditors

SC Issues Notice on Plea Against NCLAT Mandating Committee of Creditors Nod for CIRP Withdrawal(02.06.2025)

Supreme Court has issued notice on an appeal filed by Riju Ravindran challenging the NCLAT judgment holding that the application for withdrawal of the.....

Tags : Supreme Court, Committee of Creditors, CIRP Withdrawal

SC: Committee of Creditors Exists until Resolution Plan is Implemented or Liquidation is Ordered(26.09.2025)

In the JSW Steel case, the Supreme Court held that the Committee of Creditors under the IBC, 2016 does not become functus officio merely after the Adj.....

Tags : Committee of Creditors, Resolution Plan, Liquidation

NCLT Kochi: CoC May Invite Fresh Bids, Regulations Only Restrict Alteration of Existing Bids(26.11.2025)

NCLT Kochi Bench clarified that the IBBI Regulations, 2016, limit only the modification of an existing Expression of Interest and do not bar the Commi.....

Tags : Committee of Creditors, Regulations, Bids

NCLT Ahmedabad: Objections to Coc Cannot Bar RP From Challenging Preferential Transactions(12.12.2025)

NCLT Ahmedabad held that objections to the formation of the Committee of Creditors cannot prevent a Resolution Professional from filing an application.....

Tags : Committee of Creditors, Preferential Transactions, Resolution Professional