https://www.taxtmi.com/caselaws?id=280778 The Tribunal directed the Resolution Professional (RP) to prepare a revised resolution plan considering the Operational Creditor's claim, emphasizing the need for valid unpaid invoices. The Committee of Creditors (COC) approved a Bank Guarantee for the disputed amount pending resolution by the High Court. The COC sought a waiver of the public invitation requirement for management continuity of the Corporate Debtor (CD), contested by the Operational Creditor (OC). The Tribunal emphasized the mandatory nature of inviting prospective resolution applicants, rejecting the RP's request to dispense with public notice. The RP's duties, including inviting resolution applicants, were deemed mandatory, with compliance and further proceedings outlined by the Tribunal. en-us Tue, 18 Sep 2018 00:00:00 +0530 Tue, 21 May 2019 06:59:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280778 The Tribunal directed the Resolution Professional (RP) to prepare a revised resolution plan considering the Operational Creditor's claim, emphasizing the need for valid unpaid invoices. The Committee of Creditors (COC) approved a Bank Guarantee for the disputed amount pending resolution by the High Court. The COC sought a waiver of the public invitation requirement for management continuity of the Corporate Debtor (CD), contested by the Operational Creditor (OC). The Tribunal emphasized the mandatory nature of inviting prospective resolution applicants, rejecting the RP's request to dispense with public notice. The RP's duties, including inviting resolution applicants, were deemed mandatory, with compliance and further proceedings outlined by the Tribunal. Case-Laws Insolvency and Bankruptcy Tue, 18 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280778