https://www.taxtmi.com/caselaws?id=405339 The Tribunal dismissed the application challenging the legality of the Resolution Plan submitted by the 3rd respondent, emphasizing that it had been approved by the Committee of Creditors and the Tribunal. The Tribunal highlighted that it cannot set aside an approved Resolution Plan and reiterated the CoC's authority in accepting or rejecting such plans. Allegations of violations, collusion, valuation discrepancies, and procedural timing issues were found unsubstantiated. The Tribunal stressed the significance of adhering to prescribed timelines and procedures in the Corporate Insolvency Resolution Process, ultimately upholding the approved Resolution Plan without entertaining the applicant's claims. en-us Fri, 12 Mar 2021 00:00:00 +0530 Thu, 18 Mar 2021 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405339 The Tribunal dismissed the application challenging the legality of the Resolution Plan submitted by the 3rd respondent, emphasizing that it had been approved by the Committee of Creditors and the Tribunal. The Tribunal highlighted that it cannot set aside an approved Resolution Plan and reiterated the CoC's authority in accepting or rejecting such plans. Allegations of violations, collusion, valuation discrepancies, and procedural timing issues were found unsubstantiated. The Tribunal stressed the significance of adhering to prescribed timelines and procedures in the Corporate Insolvency Resolution Process, ultimately upholding the approved Resolution Plan without entertaining the applicant's claims. Case-Laws Insolvency and Bankruptcy Fri, 12 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405339