https://www.taxtmi.com/caselaws?id=293291 The Adjudicating Authority approved the resolution plan submitted by the Promoter, meeting the requirements of the Insolvency and Bankruptcy Code. The Authority emphasized the full settlement of debts of the Corporate Debtor, rejecting challenges raised by a dissenting financial creditor. The Tribunal clarified that the Promoter's eligibility under section 29A is not restricted unless specific disqualifications apply. The Tribunal upheld the plan's approval, noting the Committee of Creditors' assessment of the Corporate Debtor's viability and the proposal for 100% payment to all financial creditors, including the dissenting creditor. The appeal was dismissed without costs. en-us Wed, 11 Sep 2019 00:00:00 +0530 Wed, 03 Feb 2021 06:52:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293291 The Adjudicating Authority approved the resolution plan submitted by the Promoter, meeting the requirements of the Insolvency and Bankruptcy Code. The Authority emphasized the full settlement of debts of the Corporate Debtor, rejecting challenges raised by a dissenting financial creditor. The Tribunal clarified that the Promoter's eligibility under section 29A is not restricted unless specific disqualifications apply. The Tribunal upheld the plan's approval, noting the Committee of Creditors' assessment of the Corporate Debtor's viability and the proposal for 100% payment to all financial creditors, including the dissenting creditor. The appeal was dismissed without costs. Case-Laws Insolvency and Bankruptcy Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293291