In Nikhil Tandon v Sanjeev Bindal & Ors., Company Appeal (AT) (Insolvency) No. 13 of 2022 on 01.09.2022, a Division Bench, comprising of Justice Ashok Bhushan (Chairperson) and Mr. Barun Mitra (Technical Member), of the National Company Law Appellate Tribunal ["NCLAT"], while adjudicating an appeal from the National Company Law Tribunal ["NCLT"], set aside an order for liquidation of Corporate Debtor and has given one more opportunity to the Committee of Creditors [“CoC”] and Resolution Professional [“RP”] for finding out as to whether there can be any Resolution Plan to revive the Corporate Debtor. In this backdrop, resolution plan to revive corporate debtor as per S.240A of the Insolvency and Bankruptcy Code, 2015 [“IBC”] has been examined in this case study.
