https://www.taxtmi.com/caselaws?id=404736 The Adjudicating Authority approved the resolution plan under the Insolvency and Bankruptcy Code, finding it compliant with relevant regulations and beneficial to stakeholders. The plan involved an upfront payment, revival expenses, and adequate funding sources. The Committee of Creditors' decision to replace the Interim Resolution Professional was upheld, emphasizing the limited role of the Adjudicating Authority in commercial decisions. Claims not addressed during the process cannot be revisited post-approval. The approved plan will be implemented promptly, subject to legal requirements, with records forwarded to the Insolvency and Bankruptcy Board of India. en-us Wed, 09 Dec 2020 00:00:00 +0530 Tue, 02 Mar 2021 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404736 The Adjudicating Authority approved the resolution plan under the Insolvency and Bankruptcy Code, finding it compliant with relevant regulations and beneficial to stakeholders. The plan involved an upfront payment, revival expenses, and adequate funding sources. The Committee of Creditors' decision to replace the Interim Resolution Professional was upheld, emphasizing the limited role of the Adjudicating Authority in commercial decisions. Claims not addressed during the process cannot be revisited post-approval. The approved plan will be implemented promptly, subject to legal requirements, with records forwarded to the Insolvency and Bankruptcy Board of India. Case-Laws Insolvency and Bankruptcy Wed, 09 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404736