https://www.taxtmi.com/caselaws?id=396337 The Adjudicating Authority approved the resolution plan submitted by Dera Finvest (P.) Ltd., endorsed by 98.72% of the Committee of Creditors, exceeding the liquidation value. The rejection of the second resolution applicant's application was upheld due to untimeliness and lack of COC recall. Objections by the erstwhile promoter were dismissed for lack of merit. The judgment emphasized limited judicial review scope and dismissed appeals for not meeting Section 61(3) grounds. The decision affirmed the approval of the resolution plan and upheld commercial decisions by the COC, dismissing all appeals. en-us Fri, 29 May 2020 00:00:00 +0530 Wed, 01 Jul 2020 15:27:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=396337 The Adjudicating Authority approved the resolution plan submitted by Dera Finvest (P.) Ltd., endorsed by 98.72% of the Committee of Creditors, exceeding the liquidation value. The rejection of the second resolution applicant's application was upheld due to untimeliness and lack of COC recall. Objections by the erstwhile promoter were dismissed for lack of merit. The judgment emphasized limited judicial review scope and dismissed appeals for not meeting Section 61(3) grounds. The decision affirmed the approval of the resolution plan and upheld commercial decisions by the COC, dismissing all appeals. Case-Laws Insolvency and Bankruptcy Fri, 29 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=396337