The judgment came on an appeal by Ruchi Soyas suspended director Vijay Kumar Jain. (File/Reuters)The Supreme Court on Thursday held that the suspended board of directors of a company undergoing insolvency proceedings and its operational creditors must be given all the documents of a resolution plan (RP) as their say in the repayment of debts and safeguarding their interest is important.
It said every participant in the committee of creditors (CoC) meetings is entitled to a notice of every meeting and such notice must contain an agenda of the meeting, together with the copies of all documents relevant for matters to be discussed and the issues to be voted upon at the meeting.
Setting aside the NCLAT judgment that had refused to give copies …
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