In this article, the author has explained the applicability of the duomatic principle in the light of the Mahima Datla v. Renuka Datla. At the same time, the authors have analyzed the principle and presented its loopholes which need to be taken into...
When application for approval of Resolution Plan is yet to be filed, a better offer received from any Prospective Resolution Applicant(PRA) constitutes a changed circumstance, as such the CoC should be allowed to give a fair chance and level playing field to all other PRAs to enhance their Resolution Plans
The Division Bench of Smt. Bidisha Banerjee, Member (Judicial) and Shri D. Arvind, Member (Technical), NCLT, Kolkata has considered the preamble of the Insolvency and Bankruptcy Code and various case laws to hold that...