https://www.taxtmi.com/caselaws?id=401394 A resolution plan approved unanimously by the Committee of Creditors was found compliant with Section 30(2), Section 29A, and Regulations 37, 38, 38(1A) and 39(4) of the CIRP Regulations, so approval under Section 30(6) was warranted. Pending interlocutory applications on claims and creditor classification did not bar approval, as distribution disputes could follow those proceedings. Requests for concessions and waivers were declined, and the Adjudicating Authority reiterated that it could not modify the plan or interfere with the Committee of Creditors' commercial wisdom. The plan was approved and became binding on the corporate debtor and stakeholders. en-us Thu, 03 Dec 2020 00:00:00 +0530 Sat, 16 Oct 2021 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401394 A resolution plan approved unanimously by the Committee of Creditors was found compliant with Section 30(2), Section 29A, and Regulations 37, 38, 38(1A) and 39(4) of the CIRP Regulations, so approval under Section 30(6) was warranted. Pending interlocutory applications on claims and creditor classification did not bar approval, as distribution disputes could follow those proceedings. Requests for concessions and waivers were declined, and the Adjudicating Authority reiterated that it could not modify the plan or interfere with the Committee of Creditors' commercial wisdom. The plan was approved and became binding on the corporate debtor and stakeholders. Case-Laws Insolvency and Bankruptcy Thu, 03 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401394