IBC Code: NCLT Has No Jurisdiction To Enquire Into Justness Of Rejection Of The Resolution Plan: SC [Read Judgment]

IBC Code: NCLT Has No Jurisdiction To Enquire Into Justness Of Rejection Of The Resolution Plan: SC [Read Judgment]

“Upon receipt of a “rejected” resolution plan the adjudicating authority (NCLT) is not expected to do anything more; but is obligated to initiate liquidation process under Section 33(1) of the I&B Code.”

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