https://www.taxtmi.com/caselaws?id=394606 A resolution plan under the Insolvency and Bankruptcy Code cannot rest on commercial wisdom alone; it must also show due consideration of value maximisation, preservation of the corporate debtor as a going concern, and balancing the interests of all stakeholders, including operational creditors. Where a plan grants nil payment to operational creditors, approval may be unsustainable if the record does not reflect application of these statutory parameters. On the material before it, the committee of creditors' approval did not demonstrate such consideration, so the approval order was set aside and the matter remitted for reconsideration in accordance with the Code and applicable regulations. en-us Fri, 14 Feb 2020 00:00:00 +0530 Sat, 18 Apr 2020 14:28:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394606 A resolution plan under the Insolvency and Bankruptcy Code cannot rest on commercial wisdom alone; it must also show due consideration of value maximisation, preservation of the corporate debtor as a going concern, and balancing the interests of all stakeholders, including operational creditors. Where a plan grants nil payment to operational creditors, approval may be unsustainable if the record does not reflect application of these statutory parameters. On the material before it, the committee of creditors' approval did not demonstrate such consideration, so the approval order was set aside and the matter remitted for reconsideration in accordance with the Code and applicable regulations. Case-Laws Insolvency and Bankruptcy Fri, 14 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394606