https://www.taxtmi.com/caselaws?id=391944 The judgment upheld the approval of the Resolution Plan for 'Ruchi Soya Industries Limited' by the Committee of Creditors and the Adjudicating Authority. The Appellant's concerns regarding the distribution of proceeds were dismissed, emphasizing that dissenting secured creditors do not have preferential rights in distribution. The interpretation of the amended Section 30(2)(b)(ii) clarified that dissenting creditors are entitled to at least the liquidation value but not priority over other secured creditors. The appeal was dismissed, affirming fair treatment and equality among secured creditors in the distribution process. en-us Mon, 18 Nov 2019 00:00:00 +0530 Mon, 10 Feb 2020 21:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391944 The judgment upheld the approval of the Resolution Plan for 'Ruchi Soya Industries Limited' by the Committee of Creditors and the Adjudicating Authority. The Appellant's concerns regarding the distribution of proceeds were dismissed, emphasizing that dissenting secured creditors do not have preferential rights in distribution. The interpretation of the amended Section 30(2)(b)(ii) clarified that dissenting creditors are entitled to at least the liquidation value but not priority over other secured creditors. The appeal was dismissed, affirming fair treatment and equality among secured creditors in the distribution process. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391944