https://www.taxtmi.com/caselaws?id=386574 A resolution plan approved by the committee of creditors and supported by the resolution professional's compliance certificate may be sanctioned if it satisfies section 30(2) of the Insolvency Code and is not contrary to section 29A or the applicable regulations. Operational and statutory creditors cannot defeat approval by insisting on full payment where the plan provides treatment under the liquidation value and distribution matrix. The Insolvency Code prevails over inconsistent demands under other enactments, and belated claims cannot justify reopening an approved plan. The plan may also provide for extinguishment of pending and future proceedings, and once sanctioned it binds stakeholders and ends the moratorium. en-us Fri, 19 Jul 2019 00:00:00 +0530 Thu, 03 Oct 2019 06:08:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386574 A resolution plan approved by the committee of creditors and supported by the resolution professional's compliance certificate may be sanctioned if it satisfies section 30(2) of the Insolvency Code and is not contrary to section 29A or the applicable regulations. Operational and statutory creditors cannot defeat approval by insisting on full payment where the plan provides treatment under the liquidation value and distribution matrix. The Insolvency Code prevails over inconsistent demands under other enactments, and belated claims cannot justify reopening an approved plan. The plan may also provide for extinguishment of pending and future proceedings, and once sanctioned it binds stakeholders and ends the moratorium. Case-Laws Insolvency and Bankruptcy Fri, 19 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386574