https://www.taxtmi.com/caselaws?id=399251 The Tribunal upheld the Resolution Plan approved by the Committee of Creditors (CoC), emphasizing the CoC's discretion in fund distribution. The Applicant's plea for a higher settlement offer was dismissed as the CoC's decision regarding second charge holders' allocation was deemed valid. The Resolution Plan, despite objections, was considered fair as it offered more than the liquidation value to the Applicant. The Application was rejected without costs, affirming the CoC's authority in determining fund distribution. en-us Mon, 05 Oct 2020 00:00:00 +0530 Wed, 07 Oct 2020 11:14:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399251 The Tribunal upheld the Resolution Plan approved by the Committee of Creditors (CoC), emphasizing the CoC's discretion in fund distribution. The Applicant's plea for a higher settlement offer was dismissed as the CoC's decision regarding second charge holders' allocation was deemed valid. The Resolution Plan, despite objections, was considered fair as it offered more than the liquidation value to the Applicant. The Application was rejected without costs, affirming the CoC's authority in determining fund distribution. Case-Laws Insolvency and Bankruptcy Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399251