https://www.taxtmi.com/caselaws?id=289749 The Appellate Tribunal found that the Successful Resolution Applicant failed to implement the approved resolution plan, leading to a show cause notice being issued to its Directors. Due to the Applicant's failure to deposit the upfront amount, the resolution process was at risk of reopening, allowing for consideration of alternative plans. The Tribunal dismissed the appeal for lacking merit and directed the Central Government to take action against the Applicant for exploiting the process. A cost of &8377; 10,00,000/- was imposed on the Appellant for non-compliance. en-us Tue, 30 Apr 2019 00:00:00 +0530 Wed, 19 Aug 2020 16:38:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289749 The Appellate Tribunal found that the Successful Resolution Applicant failed to implement the approved resolution plan, leading to a show cause notice being issued to its Directors. Due to the Applicant's failure to deposit the upfront amount, the resolution process was at risk of reopening, allowing for consideration of alternative plans. The Tribunal dismissed the appeal for lacking merit and directed the Central Government to take action against the Applicant for exploiting the process. A cost of &8377; 10,00,000/- was imposed on the Appellant for non-compliance. Case-Laws Insolvency and Bankruptcy Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289749