https://www.taxtmi.com/caselaws?id=401611 The Tribunal approved the Resolution Plan submitted by Nitrex Chemicals India Limited for International Book House Private Limited under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, after finding it compliant with all mandatory requirements. Allegations of discriminatory distribution among secured financial creditors were dismissed, with the Tribunal upholding the CoC's decision based on the value of security held by each creditor. The treatment of unsecured financial creditors was deemed non-discriminatory, with all unsecured creditors receiving equal treatment in the distribution plan. en-us Tue, 01 Sep 2020 00:00:00 +0530 Fri, 11 Dec 2020 15:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401611 The Tribunal approved the Resolution Plan submitted by Nitrex Chemicals India Limited for International Book House Private Limited under Section 31(1) of the Insolvency and Bankruptcy Code, 2016, after finding it compliant with all mandatory requirements. Allegations of discriminatory distribution among secured financial creditors were dismissed, with the Tribunal upholding the CoC's decision based on the value of security held by each creditor. The treatment of unsecured financial creditors was deemed non-discriminatory, with all unsecured creditors receiving equal treatment in the distribution plan. Case-Laws Insolvency and Bankruptcy Tue, 01 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401611