NCLAT Dismisses DBS Bank's Plea Challenging Distribution of Funds from Ruchi Soya Resolution Plan - 21.11.2019

National Company Law Appellate Tribunal has dismissed the plea of Singapore-based DBS Bank, a dissenting financial creditor of Ruchi Soya challenging the distribution of proceeds from the bid submitted by Patanjali Ayurveda. The Tribunal said that a secured creditor cannot dissent with the resolution plan just to get more funds than other creditors and claim preference over other creditors.

Tags : NCLAT Ruchi Soya

Share :