https://www.taxtmi.com/caselaws?id=380259 The Tribunal allowed the withdrawal of the application for approval of the resolution plan by Liberty House Group (LHG) due to non-compliance with the Performance Guarantee requirement. The period from 18.05.2018 to the date of receipt of the order was excluded from the insolvency resolution process timeline. LHG was ordered to pay exemplary costs of Rs. 10 lacs for failing to adhere to essential terms, with instructions to deposit the amount to the Prime Minister Relief Fund. Deccan Value Investors (DVI) were invited to express interest, and financial creditors were granted the right to pursue damages or costs. en-us Fri, 15 Mar 2019 00:00:00 +0530 Thu, 16 May 2019 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380259 The Tribunal allowed the withdrawal of the application for approval of the resolution plan by Liberty House Group (LHG) due to non-compliance with the Performance Guarantee requirement. The period from 18.05.2018 to the date of receipt of the order was excluded from the insolvency resolution process timeline. LHG was ordered to pay exemplary costs of Rs. 10 lacs for failing to adhere to essential terms, with instructions to deposit the amount to the Prime Minister Relief Fund. Deccan Value Investors (DVI) were invited to express interest, and financial creditors were granted the right to pursue damages or costs. Case-Laws Insolvency and Bankruptcy Fri, 15 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380259