https://www.taxtmi.com/caselaws?id=391941 The resolution plan submitted by the Patanjali Consortium was approved by the tribunal with modifications, ensuring compliance with legal directives. The plan allocated specific funds to various creditor classes and stakeholders, totaling Rs. 4,350 crores. The tribunal upheld the Committee of Creditors' decision for equal distribution among secured financial creditors, rejecting claims for preferential treatment. The resolution plan included provisions for settling claims and equity infusion, emphasizing adherence to applicable laws and regulations. The tribunal mandated the Resolution Professional to secure necessary approvals and ensure compliance within a specified timeframe, highlighting the importance of equitable treatment of all creditors. en-us Wed, 24 Jul 2019 00:00:00 +0530 Thu, 02 Apr 2020 12:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391941 The resolution plan submitted by the Patanjali Consortium was approved by the tribunal with modifications, ensuring compliance with legal directives. The plan allocated specific funds to various creditor classes and stakeholders, totaling Rs. 4,350 crores. The tribunal upheld the Committee of Creditors' decision for equal distribution among secured financial creditors, rejecting claims for preferential treatment. The resolution plan included provisions for settling claims and equity infusion, emphasizing adherence to applicable laws and regulations. The tribunal mandated the Resolution Professional to secure necessary approvals and ensure compliance within a specified timeframe, highlighting the importance of equitable treatment of all creditors. Case-Laws Insolvency and Bankruptcy Wed, 24 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391941