Is any creditor bound by the Resolution Plan once it is approved by an adjudicating authority u/s 31(1) of IBC?
Last updated: 05 May 2021
Court :
Supreme Court of India
Brief :
Orissa Manganese & Minerals Limited (hereinafter referred to as “Corporate Debtor” or “OMML”) was engaged in the business of mining iron ore, graphite, manganese ore and agglomerating iron fines into pellets through its facilities in Orissa and Jharkhand. The Corporate Insolvency Resolution Process (hereinafter referred to as “CIRP”) was initiated in respect of the Corporate Debtor by an application under Section 7 of I&B Code filed by the State Bank of India (hereinafter referred to as “SBI”) before the National Company Law Tribunal, Kolkata Bench, Kolkata (hereinafter referred to as “NCLT”).
Citation :
CIVIL APPEAL NO.8129 OF 2019
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