Section 32 of IBC : Section 32: Appeal
IBC
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Explanation using Example
Imagine a company, XYZ Pvt. Ltd., is undergoing a corporate insolvency resolution process (CIRP) because it failed to pay its debts. A resolution plan is proposed by a potential investor and after negotiations, the Committee of Creditors (CoC) approves the plan. The plan is then submitted to the National Company Law Tribunal (NCLT), which also approves it. However, one of the operational creditors, who is not satisfied wit...
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