https://www.taxtmi.com/caselaws?id=396116 The Court dismissed all appeals, affirming the rejection of Resolution Plans under the I&B Code due to their submission below the Liquidation Value, thus contravening Section 30(2). Liquidation of the Corporate Debtor was upheld as necessary due to the absence of feasible Plans. The Court ruled that contractual termination clauses are subordinate to the I&B Code, which prioritizes preserving the Corporate Debtor's value and exploring revival options. The ownership dispute over Plant & Machinery was deferred pending resolution of claims. Liquidation was deemed appropriate, emphasizing adherence to the Code's objectives, maximizing asset value, and balancing stakeholder interests. en-us Wed, 13 Nov 2019 00:00:00 +0530 Wed, 06 Nov 2024 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396116 The Court dismissed all appeals, affirming the rejection of Resolution Plans under the I&B Code due to their submission below the Liquidation Value, thus contravening Section 30(2). Liquidation of the Corporate Debtor was upheld as necessary due to the absence of feasible Plans. The Court ruled that contractual termination clauses are subordinate to the I&B Code, which prioritizes preserving the Corporate Debtor's value and exploring revival options. The ownership dispute over Plant & Machinery was deferred pending resolution of claims. Liquidation was deemed appropriate, emphasizing adherence to the Code's objectives, maximizing asset value, and balancing stakeholder interests. Case-Laws IBC Wed, 13 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396116