The New Delhi bench of the National Company Law Appellate Tribunal( NCLAT) has held that the resolution plan does not discriminate based onType of creditors to give preference to secured creditors both having first charge or having residual charges.
The Appellants i.e. Shankar Mukherjee & Badri Kumar Tulsyan who are the Suspended Board of Directors of Suasth Healthcare Foundation (hereafter referred to as “Corporate Debtor”) under Section 61 of the Insolvency and Bankruptcy Code, 2016 (Code), challenging the Impugned Order dated 18.12.2023 passed by the National Company Law Tribunal, Kolkata Bench (“Adjudicating Authority”) in I.A. (IB) No. 1733/KB/2023 (“said Application”) in C.P. (IB) No. 204/ KB/ 2021.
Ravi…
