https://www.taxtmi.com/caselaws?id=405132 The Tribunal dismissed the Resolution Professional's application seeking repayment from the Respondents, based on a forensic audit report indicating preferential transactions. The application was challenged for lack of independent opinion and being filed post-approval of the Resolution Plan. The Tribunal held that pursuing such claims post-approval is not permissible, as the RP's role ends with the plan's approval. The decision was based on the RP's failure to adhere to timelines and the perceived attempt to avoid scrutiny. Further proceedings were directed as necessary. en-us Thu, 18 Feb 2021 00:00:00 +0530 Fri, 12 Mar 2021 08:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405132 The Tribunal dismissed the Resolution Professional's application seeking repayment from the Respondents, based on a forensic audit report indicating preferential transactions. The application was challenged for lack of independent opinion and being filed post-approval of the Resolution Plan. The Tribunal held that pursuing such claims post-approval is not permissible, as the RP's role ends with the plan's approval. The decision was based on the RP's failure to adhere to timelines and the perceived attempt to avoid scrutiny. Further proceedings were directed as necessary. Case-Laws Insolvency and Bankruptcy Thu, 18 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405132