https://www.taxtmi.com/caselaws?id=396276 The Tribunal dismissed the challenge to the approval of the Resolution Plan submitted by the 3rd Respondent in the Corporate Insolvency Resolution Process. The Tribunal held that the Appellant, ranking 6th among the Resolution Applicants, had no right to renegotiate post-submission and that the evaluation process was fair. Citing settled law, the Tribunal upheld the Committee of Creditors' authority in evaluating Resolution Plans. The challenge did not meet the limited grounds for contesting an approved Resolution Plan under Section 61(3) of the law. Consequently, both appeals were dismissed, and the Resolution Plan approval was upheld. en-us Thu, 30 Jan 2020 00:00:00 +0530 Fri, 19 Mar 2021 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396276 The Tribunal dismissed the challenge to the approval of the Resolution Plan submitted by the 3rd Respondent in the Corporate Insolvency Resolution Process. The Tribunal held that the Appellant, ranking 6th among the Resolution Applicants, had no right to renegotiate post-submission and that the evaluation process was fair. Citing settled law, the Tribunal upheld the Committee of Creditors' authority in evaluating Resolution Plans. The challenge did not meet the limited grounds for contesting an approved Resolution Plan under Section 61(3) of the law. Consequently, both appeals were dismissed, and the Resolution Plan approval was upheld. Case-Laws Insolvency and Bankruptcy Thu, 30 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396276