Insolvency challenge to creditor decision and resolution plan details: tribunal sought further submissions and reserved orders.

An application under the Insolvency and Bankruptcy Code, 2016 sought to use Section 60(5) to challenge the committee of creditors' decision under Section 21(9) and to compel disclosure of creditor claim forms and supporting documents. The tribunal did not decide the merits and directed short notes on maintainability and merits, with orders reserved. In the resolution plan approval matter, clarification was sought on timelines, payouts, allocations and related calculations; the resolution professional was granted time to furnish the additional details, and the matter was reserved.

---

---

Issues: Whether the application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016 seeking to set aside the committee of creditors' decision under Section 21(9) and direct disclosure of creditor claim forms and supporting documents should be entertained, and whether the resolution plan approval application required further clarification on the stated timelines, payouts, allocations, and related calculations.

Outcome: The parties were directed to file short notes on maintainability and merits in relation to the first application, and orders were reserved. In the resolution plan approval matter, the resolution professional was granted time to furnish the specified additional details and the matter was reserved.

---