https://www.taxtmi.com/caselaws?id=395174 The Supreme Court dismissed the application for impleadment without delving into the merits. The impugned judgment remitted the matter to the NCLT, emphasizing that resolution plans below the liquidation value cannot be accepted under Section 30(2) of the Insolvency and Bankruptcy Code. Highlighting the principle of maximizing assets, the Court indicated that plans below liquidation value are not conducive to this principle. Referring to a recent judgment, the Court clarified that a resolution applicant need not match the liquidation value. The Court set aside the NCLAT's judgment, indicating it was not in line with established legal principles. en-us Fri, 28 Feb 2020 00:00:00 +0530 Fri, 08 May 2020 12:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395174 The Supreme Court dismissed the application for impleadment without delving into the merits. The impugned judgment remitted the matter to the NCLT, emphasizing that resolution plans below the liquidation value cannot be accepted under Section 30(2) of the Insolvency and Bankruptcy Code. Highlighting the principle of maximizing assets, the Court indicated that plans below liquidation value are not conducive to this principle. Referring to a recent judgment, the Court clarified that a resolution applicant need not match the liquidation value. The Court set aside the NCLAT's judgment, indicating it was not in line with established legal principles. Case-Laws Insolvency and Bankruptcy Fri, 28 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395174