https://www.taxtmi.com/caselaws?id=416601 The Tribunal dismissed the Application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, as the Applicant's dues were not admitted in the approved Resolution Plan. The claims not included in the plan were extinguished, following the Supreme Court's precedent that approved claims become binding. The Tribunal emphasized the significance of the Information Memorandum in determining liabilities, holding that only dues specified in the plan are enforceable. Consequently, the Applicant's claims outside the plan were rejected, and no further action could be taken on those claims. en-us Tue, 14 Dec 2021 00:00:00 +0530 Mon, 03 Jan 2022 08:26:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416601 The Tribunal dismissed the Application under Section 60(5) of the Insolvency and Bankruptcy Code, 2016, as the Applicant's dues were not admitted in the approved Resolution Plan. The claims not included in the plan were extinguished, following the Supreme Court's precedent that approved claims become binding. The Tribunal emphasized the significance of the Information Memorandum in determining liabilities, holding that only dues specified in the plan are enforceable. Consequently, the Applicant's claims outside the plan were rejected, and no further action could be taken on those claims. Case-Laws Insolvency and Bankruptcy Tue, 14 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416601