Case Title: Ramkrishna Forgings Limited v Ravindra Loonkar & Anr.
Citation: 2023 LiveLaw (SC) 1007
The Supreme Court bench comprising Justice Vikram Nath and Justice Ahsanuddin Amanullah, has set aside an order whereby the National Company Law Tribunal (NCLT) kept the approval of a resolution plan in abeyance while directing an Official Liquidator to conduct re-valuation of the Corporate Debtors assets. Consequently, the order of National Company Law Appellate Tribunal (NCLAT) affirming the NCLTs order has also been set aside.
An application under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 (IBC) was filed by the Resolution Professional before NCLT, seeking approval of the resolution plan submitted by Successful Resolut…
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