The National Company Tribunal (NCLT), Mumbai Bench comprising of Ms. Lakshmi Gurung (Member (Judicial) and Shri Anil Raj Chellan (Member (Technical) disposed a Section 60(5) application filed by the Applicant against the approval of the Resolution Plan, stating that the same lacked the desired voting percentage to be approved as a resolution plan.
Background
The following case has filed by the Applicant, who is the Shareholder and Suspended Director of the Corporate Debtor, under Section 60(5) of the Insolvency and Bankruptcy Code, 2016. The Applicant, namely, Mr. Rohit Jindal, is the suspended director of the Corporate Debtor (Shree Bhimeshwari Ispat Private Limited). Oriental Bank of Commerce filed a Section 7…
