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NCLT Rejects APS Infra Resolution Plan Over PUFE Recovery Clause, Orders Liquidation
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AdvertisementPraveen Kumar Garg Vs APS Infra Engineers Private Limited (NCLT Delhi) The application was filed by the Resolution Professional under Section 30(6) of the Insolvency and Bankruptcy Code, 2016 read with Regulation 39 of the CIRP Regulations, seeking approval of a resolution plan that had been approved by the Committee of Creditors (CoC) in its 13th meeting held on 11 July 2025.
The Corporate Insolvency Resolution Process (CIRP) commenced pursuant to the Tribunal’s order dated 09.08.2024.
Following public announcement, claim verification and constitution of the CoC, the CoC approved public...