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Tag Archive for "definitions-of-operational-creditor" -

CentrikBlogsdefinitions of Operational Creditor

Tag: definitions of Operational Creditor

Binding Nature of Resolution Plan (IBC)

Posted by AdminPosted on July 3, 2021July 7, 20210 CommentsCategories Corporate Litigation-All In Way, Cross Border Advisory, Debt Recovery Management, Insolvency & Bankruptcy Code 2016, Legal Advisory, Legal OutsourcingTags Appeal against an NCLT order, Approved resolution plan under IBC, can IBC override existing contracts?, definitions of Operational Creditor, Effect and overriding provisions under IBC of an approved Resolution Plan, Overriding effect of IBC, provisions under IBC, resolution plan is approved by the NCLT, Resolution Plan under IBC, Rules of the IBC

The NCLAT, in its Order dated 23.04.2019, ruled that GMSPL’s (Ghanshyam Mishra and Sons Pvt. Ltd.) Resolution Plan is better compared to the other Applicants. However, NCLAT noted that the parties’ claims that are not covered in the Resolution Plan may be raised before the relevant forums.

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