https://www.taxtmi.com/caselaws?id=412443 The resolution plan submitted by Dev Land and Housing P. Ltd. (DLH) was approved by the Committee of Creditors (CoC) with a 67.01% voting share. The plan complies with the Insolvency and Bankruptcy Code, prioritizing payments to creditors and managing the corporate debtor's affairs post-approval. The Tribunal ruled that operational creditors' rights under the former resolution applicant cannot be decided without proper proceedings. The plan includes the formation of a Monitoring Committee to oversee implementation until the discharge date, with specific directives for amendments and reporting requirements. en-us Wed, 19 May 2021 00:00:00 +0530 Thu, 25 Nov 2021 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412443 The resolution plan submitted by Dev Land and Housing P. Ltd. (DLH) was approved by the Committee of Creditors (CoC) with a 67.01% voting share. The plan complies with the Insolvency and Bankruptcy Code, prioritizing payments to creditors and managing the corporate debtor's affairs post-approval. The Tribunal ruled that operational creditors' rights under the former resolution applicant cannot be decided without proper proceedings. The plan includes the formation of a Monitoring Committee to oversee implementation until the discharge date, with specific directives for amendments and reporting requirements. Case-Laws Insolvency and Bankruptcy Wed, 19 May 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412443