https://www.taxtmi.com/caselaws?id=292714 The Tribunal ruled in favor of the Applicant, directing the CoC to consider the Resolution Plan on its merits. Emphasizing the objective of maximizing asset value under the IBC, the Tribunal criticized the CoC's rejection based solely on technicalities. It held that Resolution Plans can be accepted after the cut-off date if no other plan has been finalized and the CIRP period is ongoing. Additionally, the Tribunal excluded five days from the CIRP period to allow for the consideration of the Applicant's plan. en-us Fri, 21 Dec 2018 00:00:00 +0530 Tue, 05 Jan 2021 20:42:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=292714 The Tribunal ruled in favor of the Applicant, directing the CoC to consider the Resolution Plan on its merits. Emphasizing the objective of maximizing asset value under the IBC, the Tribunal criticized the CoC's rejection based solely on technicalities. It held that Resolution Plans can be accepted after the cut-off date if no other plan has been finalized and the CIRP period is ongoing. Additionally, the Tribunal excluded five days from the CIRP period to allow for the consideration of the Applicant's plan. Case-Laws Companies Law Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=292714