SC: A resolution plan in which there is no provision for statutory dues cannot be approved by NCLT
Last updated: 07 December 2022
Court :
Supreme Court of India
Brief :
It is duty of IRP/IP to include all liabilities in the books of account of the Corporate Debtor, while preparing Information Memorandum and produce the same while putting before COC for approval. Any resolution plan which contravenes provisions of Section 30(2) should not be approved by NCLT.
Citation :
CIVIL APPEAL NO. 1661 OF 2020
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FCS Deepak Pratap Singh
Published in Corporate Law
Views : 448
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