https://www.taxtmi.com/caselaws?id=287492 The National Company Law Tribunal, Chennai approved the Resolution Plan submitted by SNJ Distilleries Private Limited, which was previously sanctioned by the Committee of Creditors. The Tribunal dismissed applications filed by the erstwhile Director challenging the admission order due to procedural non-compliance and delays. Compliance with Section 12(A) of the Insolvency & Bankruptcy Code was emphasized, with the Resolution Plan offering substantial benefits to creditors and workmen. The Tribunal highlighted the commercial wisdom of the Committee of Creditors in ensuring full payments to stakeholders, ultimately leading to the approval of the Resolution Plan. en-us Mon, 20 Jan 2020 00:00:00 +0530 Thu, 16 Apr 2020 11:20:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287492 The National Company Law Tribunal, Chennai approved the Resolution Plan submitted by SNJ Distilleries Private Limited, which was previously sanctioned by the Committee of Creditors. The Tribunal dismissed applications filed by the erstwhile Director challenging the admission order due to procedural non-compliance and delays. Compliance with Section 12(A) of the Insolvency & Bankruptcy Code was emphasized, with the Resolution Plan offering substantial benefits to creditors and workmen. The Tribunal highlighted the commercial wisdom of the Committee of Creditors in ensuring full payments to stakeholders, ultimately leading to the approval of the Resolution Plan. Case-Laws Insolvency and Bankruptcy Mon, 20 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287492