https://www.taxtmi.com/caselaws?id=416643 The Supreme Court dismissed the Operational Creditor's application seeking relief for payment of dues post approval of the Resolution Plan, emphasizing the binding nature of the plan on stakeholders. The Court highlighted that claims not included in the plan stand extinguished post approval, ensuring the revival of the Corporate Debtor without surprise claims. The Applicant's claim was rejected as it was not part of the approved plan, in line with the statutory framework of the Insolvency and Bankruptcy Code. The judgment underscored the importance of adhering to the Resolution Plan to protect stakeholders' interests and facilitate the Corporate Debtor's revival. en-us Tue, 14 Dec 2021 00:00:00 +0530 Tue, 04 Jan 2022 07:23:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416643 The Supreme Court dismissed the Operational Creditor's application seeking relief for payment of dues post approval of the Resolution Plan, emphasizing the binding nature of the plan on stakeholders. The Court highlighted that claims not included in the plan stand extinguished post approval, ensuring the revival of the Corporate Debtor without surprise claims. The Applicant's claim was rejected as it was not part of the approved plan, in line with the statutory framework of the Insolvency and Bankruptcy Code. The judgment underscored the importance of adhering to the Resolution Plan to protect stakeholders' interests and facilitate the Corporate Debtor's revival. Case-Laws Insolvency and Bankruptcy Tue, 14 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416643