https://www.taxtmi.com/caselaws?id=397446 The Tribunal held that accepting Resolution Plans after the deadline without proper notification was illegal and not within the commercial wisdom of the CoC. The amended Regulation 36A was deemed inapplicable as the CIRP began before its enforcement. The judgment was invalidated due to a bench member not hearing the arguments, following the principle that the one who hears must decide. The Tribunal set aside the orders and instructed the CoC to reassess plans submitted on time, with a directive for liquidation if no decision is made promptly. en-us Wed, 05 Aug 2020 00:00:00 +0530 Fri, 12 Nov 2021 18:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397446 The Tribunal held that accepting Resolution Plans after the deadline without proper notification was illegal and not within the commercial wisdom of the CoC. The amended Regulation 36A was deemed inapplicable as the CIRP began before its enforcement. The judgment was invalidated due to a bench member not hearing the arguments, following the principle that the one who hears must decide. The Tribunal set aside the orders and instructed the CoC to reassess plans submitted on time, with a directive for liquidation if no decision is made promptly. Case-Laws Insolvency and Bankruptcy Wed, 05 Aug 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397446