https://www.taxtmi.com/caselaws?id=299010 In insolvency proceedings, a financial creditor's voting share in the Committee of Creditors is computed with reference to the amount actually disbursed to the concerned corporate debtor, not the full liability claimed under a common loan agreement. Where a loan is sanctioned to co-borrowers but disbursed separately, the disbursements made to other borrowers cannot be clubbed with the corporate debtor's exposure for claim computation or voting share allocation. On that basis, reallocation of the voting share to reflect only the amount credited to the corporate debtor was upheld, and the challenge to that approach failed. en-us Tue, 14 May 2019 00:00:00 +0530 Wed, 01 Dec 2021 08:49:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299010 In insolvency proceedings, a financial creditor's voting share in the Committee of Creditors is computed with reference to the amount actually disbursed to the concerned corporate debtor, not the full liability claimed under a common loan agreement. Where a loan is sanctioned to co-borrowers but disbursed separately, the disbursements made to other borrowers cannot be clubbed with the corporate debtor's exposure for claim computation or voting share allocation. On that basis, reallocation of the voting share to reflect only the amount credited to the corporate debtor was upheld, and the challenge to that approach failed. Case-Laws Insolvency and Bankruptcy Tue, 14 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299010