https://www.taxtmi.com/caselaws?id=377889 The Tribunal partially allowed the application by directing the Resolution Professional (RP) to register the Applicant's total claim as an Operational Creditor and update relevant documents. The RP's rejection of the interest component without reasons was deemed legally unsustainable. The Applicant's claim, less than 10% of the Corporate Debtor's debts, limited opposition to the Resolution Plan. The RP lacked adjudicatory powers, and the Tribunal set aside the RP's communication, emphasizing adherence to the Insolvency & Bankruptcy Code. The application was disposed of with no costs awarded. en-us Tue, 26 Feb 2019 00:00:00 +0530 Fri, 05 Apr 2019 07:21:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377889 The Tribunal partially allowed the application by directing the Resolution Professional (RP) to register the Applicant's total claim as an Operational Creditor and update relevant documents. The RP's rejection of the interest component without reasons was deemed legally unsustainable. The Applicant's claim, less than 10% of the Corporate Debtor's debts, limited opposition to the Resolution Plan. The RP lacked adjudicatory powers, and the Tribunal set aside the RP's communication, emphasizing adherence to the Insolvency & Bankruptcy Code. The application was disposed of with no costs awarded. Case-Laws Insolvency and Bankruptcy Tue, 26 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377889