https://www.taxtmi.com/caselaws?id=389308 A resolution plan under the Insolvency and Bankruptcy Code, 2016 must satisfy statutory requirements on insolvency resolution process costs, treatment of operational creditors, applicant eligibility, and compliance with prescribed regulations before approval by the Adjudicating Authority. The committee of creditors' approval by the requisite voting share was treated as a commercial decision, and its feasibility, viability, and implementation assessment was not open to interference on merits. Requests for automatic waivers or approvals concerning pending proceedings were not granted as part of the plan, leaving affected parties to pursue remedies before the competent forums. On that basis, the plan was found compliant with the Code and approved. en-us Wed, 20 Nov 2019 00:00:00 +0530 Thu, 05 Dec 2019 11:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389308 A resolution plan under the Insolvency and Bankruptcy Code, 2016 must satisfy statutory requirements on insolvency resolution process costs, treatment of operational creditors, applicant eligibility, and compliance with prescribed regulations before approval by the Adjudicating Authority. The committee of creditors' approval by the requisite voting share was treated as a commercial decision, and its feasibility, viability, and implementation assessment was not open to interference on merits. Requests for automatic waivers or approvals concerning pending proceedings were not granted as part of the plan, leaving affected parties to pursue remedies before the competent forums. On that basis, the plan was found compliant with the Code and approved. Case-Laws Companies Law Wed, 20 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389308