https://www.taxtmi.com/caselaws?id=407553 The Tribunal allowed the Application challenging the Resolution Plan's allocation for litigation costs. It found that the CoC's decision to allocate additional litigation costs from related party amounts post-approval, without explicit provision in the Plan, was unjustified. The Applicant was entitled to the allocated amount within 90 days from the total resolution plan amount. The Tribunal emphasized the binding nature of the Resolution Plan on all stakeholders and upheld the Applicant's claim for the specified amount. en-us Tue, 20 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407553 The Tribunal allowed the Application challenging the Resolution Plan's allocation for litigation costs. It found that the CoC's decision to allocate additional litigation costs from related party amounts post-approval, without explicit provision in the Plan, was unjustified. The Applicant was entitled to the allocated amount within 90 days from the total resolution plan amount. The Tribunal emphasized the binding nature of the Resolution Plan on all stakeholders and upheld the Applicant's claim for the specified amount. Case-Laws Insolvency and Bankruptcy Tue, 20 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407553