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Oct 19, 2023

Differential Payments Can Be Made to Assenting and Dissenting Unsecured Financial Creditors

The National Company Law Appellate Tribunal (‘NCLAT’), New Delhi in Peter Beck and Partner Vermoegensverwaltung GMBH v. Sharon Bio-medicine Limited & Ors.,[1] held that IBC does not bar differential payments to assenting and dissenting unsecured financial creditors. It stated that while the assenting financial creditors are entitled for payment as proposed in the resolution plan, the dissenting financial creditors are entitled to only the liquidation value due to them as per Section 30(2)(b) of the IBC.

[1] Peter Beck and Partner Vermoegensverwaltung GMBH v. Sharon Bio-medicine Limited & Ors., Company Appeal (AT) (Insolvency) No. 912 of 2023 [National Company Law Appellate Tribunal].

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These are the views and opinions of the author(s) and do not necessarily reflect the views of the Firm. This article is intended for general information only and does not constitute legal or other advice and you acknowledge that there is no relationship (implied, legal or fiduciary) between you and the author/AZB. AZB does not claim that the article's content or information is accurate, correct or complete, and disclaims all liability for any loss or damage caused through error or omission.

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