https://www.taxtmi.com/caselaws?id=398884 In the Intervention Application (IA No.904/MB.IV/2020), the Tribunal directed that the Scheme would only apply to Operational Creditors, not Financial Creditors. The Respondent Company was instructed to revise the Scheme, ensuring it does not impact Financial Creditors, and objections would be considered at a later stage. The Applicant Bank's rights were safeguarded, and Financial Creditors were advised to independently assess any Resolution Plan. In the Recall of Order (IA No.1002/MB.IV/2020), the Tribunal restricted meetings to Operational Creditors, set a timeline for the meetings, appointed officials, and mandated compliance reporting. en-us Mon, 27 Jul 2020 00:00:00 +0530 Sat, 26 Sep 2020 11:41:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398884 In the Intervention Application (IA No.904/MB.IV/2020), the Tribunal directed that the Scheme would only apply to Operational Creditors, not Financial Creditors. The Respondent Company was instructed to revise the Scheme, ensuring it does not impact Financial Creditors, and objections would be considered at a later stage. The Applicant Bank's rights were safeguarded, and Financial Creditors were advised to independently assess any Resolution Plan. In the Recall of Order (IA No.1002/MB.IV/2020), the Tribunal restricted meetings to Operational Creditors, set a timeline for the meetings, appointed officials, and mandated compliance reporting. Case-Laws Companies Law Mon, 27 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398884