https://www.taxtmi.com/caselaws?id=284574 In a corporate insolvency resolution process, promoter-shareholders have no vested right to receive a distribution under an approved resolution plan merely because they are affected by its terms. The insolvency framework suspends promoter and related-party rights, including control and voting rights, and does not require them to be placed on par with financial or operational creditors. Treatment of personal guarantees and other securities under the plan was not illegal, because guarantees are independent contracts and a guarantor's liability remains co-extensive with that of the borrower. Differential treatment between promoter-shareholders and other equity holders was therefore not discriminatory within the insolvency regime. en-us Wed, 19 Dec 2018 00:00:00 +0530 Wed, 27 Nov 2019 09:52:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284574 In a corporate insolvency resolution process, promoter-shareholders have no vested right to receive a distribution under an approved resolution plan merely because they are affected by its terms. The insolvency framework suspends promoter and related-party rights, including control and voting rights, and does not require them to be placed on par with financial or operational creditors. Treatment of personal guarantees and other securities under the plan was not illegal, because guarantees are independent contracts and a guarantor's liability remains co-extensive with that of the borrower. Differential treatment between promoter-shareholders and other equity holders was therefore not discriminatory within the insolvency regime. Case-Laws Insolvency and Bankruptcy Wed, 19 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284574