https://www.taxtmi.com/caselaws?id=276769 The National Company Law Appellate Tribunal (NCLAT) held that all financial creditors should be treated equally in a resolution plan, regardless of their support or dissent. The Tribunal invalidated specific provisions in the Resolution Plan that mandated different treatment for operational and dissenting financial creditors, emphasizing alignment with the Insolvency and Bankruptcy Code. The Successful Resolution Applicant's equal treatment of creditors was upheld, and the appellant was prohibited from discriminating against dissenting creditors. The NCLAT clarified the limitations of the Board's authority in determining creditor payments and dismissed the appeal without costs. en-us Wed, 12 Sep 2018 00:00:00 +0530 Sat, 17 Nov 2018 07:52:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276769 The National Company Law Appellate Tribunal (NCLAT) held that all financial creditors should be treated equally in a resolution plan, regardless of their support or dissent. The Tribunal invalidated specific provisions in the Resolution Plan that mandated different treatment for operational and dissenting financial creditors, emphasizing alignment with the Insolvency and Bankruptcy Code. The Successful Resolution Applicant's equal treatment of creditors was upheld, and the appellant was prohibited from discriminating against dissenting creditors. The NCLAT clarified the limitations of the Board's authority in determining creditor payments and dismissed the appeal without costs. Case-Laws Insolvency and Bankruptcy Wed, 12 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276769