https://www.taxtmi.com/caselaws?id=377809 The court dismissed the writ petition, ruling that the suit for recovery filed by respondent No.1 could not be dismissed due to the corporate insolvency resolution process. The resolution plan recognized operational creditors' claims, allocating Rs. 1200 crores for settlement. Sections 63 and 238 of the IBC did not mandate suit dismissal upon plan approval. The court emphasized prioritizing operational creditors' dues and harmonizing the resolution plan with IBC provisions for justice. en-us Thu, 28 Mar 2019 00:00:00 +0530 Thu, 04 Apr 2019 07:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377809 The court dismissed the writ petition, ruling that the suit for recovery filed by respondent No.1 could not be dismissed due to the corporate insolvency resolution process. The resolution plan recognized operational creditors' claims, allocating Rs. 1200 crores for settlement. Sections 63 and 238 of the IBC did not mandate suit dismissal upon plan approval. The court emphasized prioritizing operational creditors' dues and harmonizing the resolution plan with IBC provisions for justice. Case-Laws Insolvency and Bankruptcy Thu, 28 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377809