https://www.taxtmi.com/caselaws?id=291521 The Tribunal dismissed the Operational Creditor's challenge to the Resolution Plan, upholding the 'nil' payment to Operational Creditors as justified under the amended I&B Code. It also rejected the Financial Creditor's application to protect its rights against guarantors, affirming the CoC's decision to extinguish such rights. The Tribunal emphasized the CoC's commercial wisdom in approving the plan and the legislative intent to ensure the revival of the Corporate Debtor. en-us Fri, 20 Sep 2019 00:00:00 +0530 Fri, 13 Nov 2020 21:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=291521 The Tribunal dismissed the Operational Creditor's challenge to the Resolution Plan, upholding the 'nil' payment to Operational Creditors as justified under the amended I&B Code. It also rejected the Financial Creditor's application to protect its rights against guarantors, affirming the CoC's decision to extinguish such rights. The Tribunal emphasized the CoC's commercial wisdom in approving the plan and the legislative intent to ensure the revival of the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Fri, 20 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=291521