Power vested on RP u/s 25(1) of IBC to Reject CoC’s Proposal for Renewal of Bank Guarantees by CD: NCLAT
Power vested on RP u/s 25(1) of IBC to Reject CoC's Proposal for Renewal of Bank Guarantees by CD:, rules NCLAT
By Kalyani B. Nair - On January 8, 2024 10:27 am - 2 mins read
The Chennai Bench of the National Company Law Appellate Tribunal (NCLAT) observed that power is vested on Resolution Professional under Section 25(1) of the Insolvency and Bankruptcy Code, 2016 (IBC) to reject Committee of Creditors (CoC’s) Proposal for Renewal of Bank Guarantees by Corporate Debtor. The point which falls for consideration in the Appeal is…
Your free access to Taxscan has Expired
To read the article, get a premium account.
Taxscan Premium
Why should you subscribe?
Enjoy our website without interruptions from advertisements
Receive Daily newsletters
Receive realtime Telegram/Whatsapp news updates
Download original Judgements / Order / Notifications / Circulars, etc
