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CS Professional · Insolvency and Bankruptcy - Law and Practice · Adjudication and Appeals for Corporate Persons

Under Section 61(1), who may prefer an appeal to the NCLAT against an order of the Adjudicating Authority under Part II of the Code?

Any person aggrieved by the order of the Adjudicating Authority may appeal to the NCLAT. Section 61(1) does not restrict the right to the resolution professional, the debtor or dissenting financial creditors; the test is whether the person is aggrieved by the order.

  1. AOnly the resolution professional
  2. BOnly the corporate debtor
  3. CAny person aggrieved by the orderCorrect
  4. DOnly the financial creditors who voted against the plan

Explanation

Section 61(1) allows any person aggrieved by an order of the Adjudicating Authority under this part to appeal to the NCLAT. It does not limit the right to particular classes such as the debtor, professional or dissenting financial creditors.

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