https://www.taxtmi.com/caselaws?id=289726 The Appellate Tribunal upheld the Adjudicating Authority's decision to reject the Resolution Plan withdrawal by Deccan Value Investors LLP, directing a fresh bidding process. It affirmed that the Adjudicating Authority's jurisdiction is limited by the Insolvency and Bankruptcy Code, emphasizing the need for accurate information in the resolution process. The Tribunal denied Deccan's appeal for a refund of the Bid Bond Guarantee, stating that non-viability of the plan justified the decision. The original Resolution Plan approved by the Committee of Creditors but rejected by the Adjudicating Authority was deemed appropriate, leading to the dismissal of both appeals. en-us Fri, 07 Feb 2020 00:00:00 +0530 Mon, 17 Aug 2020 22:37:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289726 The Appellate Tribunal upheld the Adjudicating Authority's decision to reject the Resolution Plan withdrawal by Deccan Value Investors LLP, directing a fresh bidding process. It affirmed that the Adjudicating Authority's jurisdiction is limited by the Insolvency and Bankruptcy Code, emphasizing the need for accurate information in the resolution process. The Tribunal denied Deccan's appeal for a refund of the Bid Bond Guarantee, stating that non-viability of the plan justified the decision. The original Resolution Plan approved by the Committee of Creditors but rejected by the Adjudicating Authority was deemed appropriate, leading to the dismissal of both appeals. Case-Laws Insolvency and Bankruptcy Fri, 07 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289726