https://www.taxtmi.com/caselaws?id=397511 An appeal against approval of a resolution plan is maintainable only on the limited grounds in section 61(3) of the Insolvency and Bankruptcy Code, including contravention of law, material irregularity by the resolution professional, failure to provide for operational creditors, non-payment of insolvency resolution process costs in priority, or non-compliance with Board criteria. Where the appellant had not lodged a claim in the CIRP and did not qualify as a creditor, it lacked a legally cognisable basis to challenge the plan. A challenge resting on contractual rights and pre-emptive entitlement did not fall within the statutory appellate grounds, and no permissible ground for interference was shown. en-us Fri, 13 Mar 2020 00:00:00 +0530 Fri, 21 Aug 2020 08:22:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397511 An appeal against approval of a resolution plan is maintainable only on the limited grounds in section 61(3) of the Insolvency and Bankruptcy Code, including contravention of law, material irregularity by the resolution professional, failure to provide for operational creditors, non-payment of insolvency resolution process costs in priority, or non-compliance with Board criteria. Where the appellant had not lodged a claim in the CIRP and did not qualify as a creditor, it lacked a legally cognisable basis to challenge the plan. A challenge resting on contractual rights and pre-emptive entitlement did not fall within the statutory appellate grounds, and no permissible ground for interference was shown. Case-Laws Insolvency and Bankruptcy Fri, 13 Mar 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397511