https://www.taxtmi.com/caselaws?id=394478 The Tribunal upheld the Adjudicating Authority's approval of the Resolution Plan, confirming its compliance with the I&B Code and relevant legal precedents. It emphasized the primacy of the CoC's commercial wisdom, dismissing appeals and asserting no grounds for interference with the order dated 22nd July 2019. Claims not included in the approved Resolution Plan were extinguished, and the initiation of CIRP was validated despite a pending winding-up petition. The Tribunal clarified that the Adjudicating Authority lacks the power to modify its own orders, except for correcting errors apparent on the record. en-us Fri, 24 Jan 2020 00:00:00 +0530 Wed, 06 Nov 2024 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394478 The Tribunal upheld the Adjudicating Authority's approval of the Resolution Plan, confirming its compliance with the I&B Code and relevant legal precedents. It emphasized the primacy of the CoC's commercial wisdom, dismissing appeals and asserting no grounds for interference with the order dated 22nd July 2019. Claims not included in the approved Resolution Plan were extinguished, and the initiation of CIRP was validated despite a pending winding-up petition. The Tribunal clarified that the Adjudicating Authority lacks the power to modify its own orders, except for correcting errors apparent on the record. Case-Laws IBC Fri, 24 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394478