https://www.taxtmi.com/caselaws?id=287948 The appellant, an Operational Creditor, challenged the approval of a Resolution Plan under the Insolvency and Bankruptcy Code, 2016, which was submitted by a third party and approved by the Adjudicating Authority and Committee of Creditors. The plan was found valid and binding on all stakeholders, including Operational Creditors. The Tribunal dismissed the appeal, emphasizing the plan's compliance with the Code's requirements. Additionally, it was clarified that individual notice to Operational Creditors for approving a Resolution Plan was not mandatory under Section 31 of the Code. The I&B Code's supremacy over conflicting state regulations, such as those of the Gujarat Electricity Regulatory Commission, was also affirmed. en-us Mon, 24 Sep 2018 00:00:00 +0530 Tue, 12 May 2020 08:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287948 The appellant, an Operational Creditor, challenged the approval of a Resolution Plan under the Insolvency and Bankruptcy Code, 2016, which was submitted by a third party and approved by the Adjudicating Authority and Committee of Creditors. The plan was found valid and binding on all stakeholders, including Operational Creditors. The Tribunal dismissed the appeal, emphasizing the plan's compliance with the Code's requirements. Additionally, it was clarified that individual notice to Operational Creditors for approving a Resolution Plan was not mandatory under Section 31 of the Code. The I&B Code's supremacy over conflicting state regulations, such as those of the Gujarat Electricity Regulatory Commission, was also affirmed. Case-Laws Insolvency and Bankruptcy Mon, 24 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287948