https://www.taxtmi.com/caselaws?id=389401 The Adjudicating Authority approved the Resolution Plan submitted by the Appellant with conditions related to 'right to receivables', 'carry forward losses', and 'subsidiaries, associate companies, and joint ventures of the Company'. The Appellant challenged these conditions, arguing that the Adjudicating Authority lacked the power to impose them post-approval by the Committee of Creditors. The Court referenced the case law 'Committee of Creditors of Essar Steel India Limited Through Authorised Signatory v. Satish Kumar Gupta & Ors' and set aside the conditions imposed by the Adjudicating Authority, confirming the approval of the Resolution Plan in favor of the Appellant. en-us Wed, 04 Dec 2019 00:00:00 +0530 Sat, 07 Dec 2019 11:24:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=389401 The Adjudicating Authority approved the Resolution Plan submitted by the Appellant with conditions related to 'right to receivables', 'carry forward losses', and 'subsidiaries, associate companies, and joint ventures of the Company'. The Appellant challenged these conditions, arguing that the Adjudicating Authority lacked the power to impose them post-approval by the Committee of Creditors. The Court referenced the case law 'Committee of Creditors of Essar Steel India Limited Through Authorised Signatory v. Satish Kumar Gupta & Ors' and set aside the conditions imposed by the Adjudicating Authority, confirming the approval of the Resolution Plan in favor of the Appellant. Case-Laws Insolvency and Bankruptcy Wed, 04 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=389401