https://www.taxtmi.com/caselaws?id=379752 A resolution plan compliant with the Insolvency and Bankruptcy Code and the CIRP Regulations was approved because it provided for priority payment of insolvency resolution process costs, treated secured and unsecured financial creditors, operational creditors and employee dues in accordance with the statutory framework, and did not fall below liquidation entitlement. Objections by stakeholders were rejected where claims were filed belatedly after completion of the resolution process, or where challenges were raised after committee approval and lacked merit. The tribunal also deferred to the committee of creditors' commercial wisdom, holding that disagreement with the plan's allocation did not justify rejection when the liquidation benchmark was satisfied. en-us Tue, 12 Mar 2019 00:00:00 +0530 Tue, 07 May 2019 09:14:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379752 A resolution plan compliant with the Insolvency and Bankruptcy Code and the CIRP Regulations was approved because it provided for priority payment of insolvency resolution process costs, treated secured and unsecured financial creditors, operational creditors and employee dues in accordance with the statutory framework, and did not fall below liquidation entitlement. Objections by stakeholders were rejected where claims were filed belatedly after completion of the resolution process, or where challenges were raised after committee approval and lacked merit. The tribunal also deferred to the committee of creditors' commercial wisdom, holding that disagreement with the plan's allocation did not justify rejection when the liquidation benchmark was satisfied. Case-Laws Insolvency and Bankruptcy Tue, 12 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379752