https://www.taxtmi.com/caselaws?id=379659 The Tribunal held that the Resolution Plan, approved within the stipulated 270 days excluding certain periods, was in conformity with the Insolvency and Bankruptcy Code. It allowed the CoC to change votes to ensure plan success, treating all Financial Creditors equally. The plan's viability and feasibility were affirmed, with a modified payment period of 12 years. The Adjudicating Authority's rejection was set aside, and the plan was remitted for approval. The Tribunal clarified the CoC's authority to change votes but not opinions post-voting. All appeals were allowed with no costs. en-us Tue, 19 Mar 2019 00:00:00 +0530 Tue, 26 Oct 2021 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379659 The Tribunal held that the Resolution Plan, approved within the stipulated 270 days excluding certain periods, was in conformity with the Insolvency and Bankruptcy Code. It allowed the CoC to change votes to ensure plan success, treating all Financial Creditors equally. The plan's viability and feasibility were affirmed, with a modified payment period of 12 years. The Adjudicating Authority's rejection was set aside, and the plan was remitted for approval. The Tribunal clarified the CoC's authority to change votes but not opinions post-voting. All appeals were allowed with no costs. Case-Laws Insolvency and Bankruptcy Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379659