Supreme Court · 2022 INSC 578 · Decided 17 May 2022
New Okhla Industrial Development Authority v. Anand Sonbhadra
- Court
- Supreme Court of India
- Citation
- 2022 INSC 578 · [2022] 5 S.C.R. 319
- Case number
- CIVIL APPEAL No. 2222/2021
- Decided
- 17 May 2022
- Bench
- K.M. JOSEPH, HRISHIKESH ROY (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution; IBC Section 21, 27, 28, 30, 2(20), 5(8), 3(33), 3(6)
Headnote
Insolvency and Bankruptcy Code, 2016: ss. 21, 27, 28, 30 - Proceedings involving Corporate Debtor - Committee of Creditors - Importance and Procedure - In the idea of resurrecting an ailing corporate debtor, the Code contemplates the formation of Committee of Creditors as consists of financial creditors as per s. 27 - The Committee is conferred with the duty to appoint Resolution Professionals - The Resolution Plan scrutinized by such professionals then awaits the decision of the Committee as per s. 30 - It is a fundamental aspect of the
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