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NCLAT orders consideration of resolution plan submitted by highest bidder

November 2, 2018[2018] 99 taxmann.com 33 (NCL-AT)
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I&B Code: Where appellant-SREI was declared as highest evaluated Resolution Applicant (H1) but BPSL which was H2 bidder alleged in regard to ineligibility of appellant as Resolution Applicant on basis of a decision of NCLT, Hyderabad but that decision was set aside by Appellate Tribunal, ineligibility alleged against appellant had been removed by process of law, and, therefore, Resolution Professional was directed to place Resolution Plan submitted by appellant and approved by CoC before NCLT for its approval in terms of provisions of section 30(6)

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