https://www.taxtmi.com/highlights?id=55657 Approval of Resolution plan - It is settled position in Law that provisions in a Statute would operate prospectively unless the retrospective operation is expressly provided for. There being no clarification provided to that effect, the amended Regulation 38 cannot be said to have retrospective application. - The approved Resolution does not give differential treatment among the same Class of Financial Creditors merely based on assenting or dissenting Financial Creditors. Thus, the approved Resolution Plan is not discriminatory.- AT en-us Fri, 27 Nov 2020 10:25:46 +0530 Fri, 27 Nov 2020 10:25:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=55657 Approval of Resolution plan - It is settled position in Law that provisions in a Statute would operate prospectively unless the retrospective operation is expressly provided for. There being no clarification provided to that effect, the amended Regulation 38 cannot be said to have retrospective application. - The approved Resolution does not give differential treatment among the same Class of Financial Creditors merely based on assenting or dissenting Financial Creditors. Thus, the approved Resolution Plan is not discriminatory.- AT Highlights Insolvency and Bankruptcy Fri, 27 Nov 2020 10:25:46 +0530 https://www.taxtmi.com/highlights?id=55657