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NCLAT Directs Modification Of Resolution Plan On Ground Of Discrimination Between Similarly Situated Financial Creditors

Arunima Bhattacharjee
19 Sep 2019 7:23 AM GMT
NCLAT Directs Modification Of Resolution Plan On Ground Of Discrimination  Between Similarly Situated Financial Creditors

Although the Appellate Tribunal found the resolution plan to be in contravention of provisions of the IBC, it did not set aside the plan. An opportunity was given to the resolution applicant to remove the discrimination by providing similar treatment, as was provided to other similarly situated financial creditors.

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