https://www.taxtmi.com/caselaws?id=372670 The Tribunal dismissed the application filed by the Resolution Applicant, citing the expired CIRP period and lack of reasonable grounds for directing consideration of the 'Resolution Plan.' Despite concerns raised about improper evaluation by the Resolution Professional and requests for an extension of the CIRP period, the Tribunal found insufficient basis to compel the CoCs to discuss the Plan. The CoCs' reservations regarding asset valuation and transactions with the Resolution Applicant were noted, but the lack of active discussion on the Plan led to the rejection of the application. en-us Wed, 31 Oct 2018 00:00:00 +0530 Thu, 27 Dec 2018 16:00:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372670 The Tribunal dismissed the application filed by the Resolution Applicant, citing the expired CIRP period and lack of reasonable grounds for directing consideration of the 'Resolution Plan.' Despite concerns raised about improper evaluation by the Resolution Professional and requests for an extension of the CIRP period, the Tribunal found insufficient basis to compel the CoCs to discuss the Plan. The CoCs' reservations regarding asset valuation and transactions with the Resolution Applicant were noted, but the lack of active discussion on the Plan led to the rejection of the application. Case-Laws Insolvency and Bankruptcy Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372670