https://www.taxtmi.com/caselaws?id=392888 A resolution plan conditioned on cancellation of an unregistered lease and eviction of the lessee was held incompatible with the Insolvency and Bankruptcy Code because it depended on reliefs the Adjudicating Authority could not grant. The Tribunal held that eviction or cancellation of the lease was outside the Authority's insolvency jurisdiction, so approval of a plan requiring such orders was legally unsustainable. It further held that avoidance proceedings for a preferential transaction are not confined to one stage: they may be pursued during resolution or liquidation by the resolution professional or liquidator, subject to the statutory framework. The rejection of the plan and the consequential liquidation order were upheld. en-us Thu, 20 Feb 2020 00:00:00 +0530 Mon, 02 Mar 2020 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392888 A resolution plan conditioned on cancellation of an unregistered lease and eviction of the lessee was held incompatible with the Insolvency and Bankruptcy Code because it depended on reliefs the Adjudicating Authority could not grant. The Tribunal held that eviction or cancellation of the lease was outside the Authority's insolvency jurisdiction, so approval of a plan requiring such orders was legally unsustainable. It further held that avoidance proceedings for a preferential transaction are not confined to one stage: they may be pursued during resolution or liquidation by the resolution professional or liquidator, subject to the statutory framework. The rejection of the plan and the consequential liquidation order were upheld. Case-Laws Insolvency and Bankruptcy Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392888