Supreme Court · 2021 INSC 923 · Decided 17 December 2021
Ngaitlang Dhar v. Panna Pragati Infrastructure Private Limited & ORS.
- Court
- Supreme Court of India
- Citation
- 2021 INSC 923 · [2021] 9 S.C.R. 1009
- Case number
- CIVIL APPEAL No. 3665/2020
- Decided
- 17 December 2021
- Bench
- L. NAGESWARA RAO, BHUSHAN RAMKRISHNA GAVAI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- IBC Section 30(2), 61(3), 61(3)(ii)
Headnote
Insolvency and Bankruptcy Code, 2016 - 'Material irregularity' - When not - Corporate Insolvency Resolution Process (CIRP) initiated in respect of Corporate Debtor - Resolution Plans were received from four prospective Resolution respondent no.2 and other two - In the meeting of Committee of Creditors (CoC), the appellant emerged as H-1 bidder - Resolution Plan of the appellant approved by CoC, further approved by NCLT - Respondent No.1- contended that in the proceedings before the CoC it had sought
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