The Mumbai bench of the National Company Law Tribunal (NCLT) on January 9, 2022, has approved the resolution plan of Adani Goodhomes, a part of Adani Realty
Adani Goodhomes: A two-member bench comprising the NCLAT Chairman rejected the petitions by two dissenting financial creditors, saying it was "commercial wisdom" of the Committee of Creditors (CoC), which approved the payout to different creditors.
The NCLT allowed it to participate and submit the Resolution Plan to maximise its value. However, it said this opportunity shall be subject to compliance with the provisions contained in CIRP regulations. However, as there was a contradiction in the NCLT order on the one hand, it allowed submission of the resolution plan by JPL for maximisation, but on the other hand, it sought compliance with the CIRP Regulations, and the RP requested clarification from the tribunal.