Supreme Court of India
Mishra and S. Ravindra Bhat, Jj.] v. Rave Scans Pvt. Ltd. & Ors.
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What the Court ordered
In view of the foregoing discussion, the appeal succeeds and is allowed.
Judgment, page 9
From the headnote
Insolvency and Bankruptcy Code, 2016 – ss.10 and 30 – Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 – regn.38 – Corporate Insolvency Resolution Process (CIRP) was initiated against the corporate debtor u/s.10 of the IBC – The appellant was the resolution applicant of the corporate debtor, whose liquidation value was ascertained as 36 crores and against the said amount appellant offered 54 crores to revive the corporate debtor in terms of the resolution plan – The resolution plan was revised by the appellant, which was approved…
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