Priority in upfront payment to Operational Creditors cannot be termed unfair or inequitable.
Last updated: 22 January 2021
Court :
NCLT
Brief :
04.01.2021 Appellants are the ‘Operational Creditors’ of the Corporate Debtor - Reliance Infratel Limited. They are aggrieved of the impugned order dated 3rd December, 2020 passed by the Adjudicating Authority (National Company Law Tribunal, Court-I, Mumbai Bench) by virtue whereof Resolution Plan in respect of Corporate Debtor submitted by the Resolution Applicant Reliance Projects and Property Management Services Limited (formerly known as Reliance Digital Platform and Project Services Limited) came to be approved.
Citation :
Company Appeal (AT) (Insolvency) No.1134 of 2020
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