https://www.taxtmi.com/caselaws?id=399351 Belated claims and objections filed after approval of an earlier resolution plan cannot be revived once the insolvency process has advanced beyond the relevant stage, because a successful resolution applicant is entitled to proceed on a fresh slate. A limited reopening for fresh offers does not reopen the entire corporate insolvency process for new claims or redistribution objections. The resolution plan was also found compliant with the Insolvency and Bankruptcy Code: it provided for process costs, operational creditors, implementation, and statutory compliance, and no disqualification was established. Objections about the land lease, absence of a letter of intent, and the performance guarantee did not defeat approval, and the commercial decision of creditors was respected. en-us Thu, 09 Jul 2020 00:00:00 +0530 Tue, 05 Nov 2024 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399351 Belated claims and objections filed after approval of an earlier resolution plan cannot be revived once the insolvency process has advanced beyond the relevant stage, because a successful resolution applicant is entitled to proceed on a fresh slate. A limited reopening for fresh offers does not reopen the entire corporate insolvency process for new claims or redistribution objections. The resolution plan was also found compliant with the Insolvency and Bankruptcy Code: it provided for process costs, operational creditors, implementation, and statutory compliance, and no disqualification was established. Objections about the land lease, absence of a letter of intent, and the performance guarantee did not defeat approval, and the commercial decision of creditors was respected. Case-Laws IBC Thu, 09 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399351