Section 61(3) in Insolvency And Bankruptcy Code, 2016
(3)An appeal against an order approving a resolution plan under section 31 may be filed on the following grounds, namely:-(i)the approved resolution plan is in contravention of the provisions of any law for the time being in force;(ii)there has been material irregularity in exercise of the powers by the resolution professional during the corporate insolvency resolution period;(iii)the debts owed to operational creditors of the corporate debtor have not been provided for in the resolution plan in the manner specified by the Board;(iv)the insolvency resolution process costs have not been provided for repayment in priority to all other debts; or(v)the resolution plan does not comply with any other criteria specified by the Board.
