https://www.taxtmi.com/caselaws?id=409116 The Tribunal declared the Resolution Plan as illegal and violative of the Insolvency and Bankruptcy Code, emphasizing the need to protect the interests of various applicants, including Fixed Deposit Holders, employees, and small investors. It recommended revisiting the distribution method to provide a fair share to small investors without imposing additional monetary obligations on the Resolution Applicant. The Tribunal highlighted the importance of equitable distribution among creditors, urging the Committee of Creditors to consider a fair distribution mechanism for operational and unsecured financial creditors. The decision aimed to ensure a fair and increased share for small investors, public depositors, and Fixed Deposit holders. en-us Mon, 07 Jun 2021 00:00:00 +0530 Tue, 29 Jun 2021 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409116 The Tribunal declared the Resolution Plan as illegal and violative of the Insolvency and Bankruptcy Code, emphasizing the need to protect the interests of various applicants, including Fixed Deposit Holders, employees, and small investors. It recommended revisiting the distribution method to provide a fair share to small investors without imposing additional monetary obligations on the Resolution Applicant. The Tribunal highlighted the importance of equitable distribution among creditors, urging the Committee of Creditors to consider a fair distribution mechanism for operational and unsecured financial creditors. The decision aimed to ensure a fair and increased share for small investors, public depositors, and Fixed Deposit holders. Case-Laws Insolvency and Bankruptcy Mon, 07 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409116