https://www.taxtmi.com/caselaws?id=405937 A resolution plan under the insolvency framework must satisfy mandatory statutory conditions, including priority payment of insolvency resolution process costs, fair treatment of operational creditors and dissenting financial creditors, compliance with eligibility and procedural requirements, and approval by the requisite voting share of the committee of creditors. The adjudicating authority's role is limited to checking statutory compliance and does not extend to substituting commercial judgment or modifying the plan. Requests for blanket waivers or concessions, including tax-related reliefs, cannot be granted outside the plan and must be pursued before the competent authorities in accordance with law. Once approved, the plan binds the corporate debtor and stakeholders. en-us Thu, 25 Mar 2021 00:00:00 +0530 Thu, 01 Apr 2021 20:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405937 A resolution plan under the insolvency framework must satisfy mandatory statutory conditions, including priority payment of insolvency resolution process costs, fair treatment of operational creditors and dissenting financial creditors, compliance with eligibility and procedural requirements, and approval by the requisite voting share of the committee of creditors. The adjudicating authority's role is limited to checking statutory compliance and does not extend to substituting commercial judgment or modifying the plan. Requests for blanket waivers or concessions, including tax-related reliefs, cannot be granted outside the plan and must be pursued before the competent authorities in accordance with law. Once approved, the plan binds the corporate debtor and stakeholders. Case-Laws Insolvency and Bankruptcy Thu, 25 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405937