https://www.taxtmi.com/caselaws?id=417202 The tribunal dismissed the application seeking priority consideration before the approval of the resolution plan, citing that the issue had been settled by the NCLAT and the applicant failed to prove ineligibility under section 29A of the IBC, 2016. The tribunal also rejected the claim regarding the ineligibility of erstwhile promoters, as the applicant did not provide sufficient evidence. However, the tribunal approved the resolution plan, finding it feasible and compliant with the IBC, 2016, directing the resolution professional to complete formalities and transfer management to the nominated board of directors. en-us Tue, 05 Oct 2021 00:00:00 +0530 Mon, 17 Jan 2022 19:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417202 The tribunal dismissed the application seeking priority consideration before the approval of the resolution plan, citing that the issue had been settled by the NCLAT and the applicant failed to prove ineligibility under section 29A of the IBC, 2016. The tribunal also rejected the claim regarding the ineligibility of erstwhile promoters, as the applicant did not provide sufficient evidence. However, the tribunal approved the resolution plan, finding it feasible and compliant with the IBC, 2016, directing the resolution professional to complete formalities and transfer management to the nominated board of directors. Case-Laws Insolvency and Bankruptcy Tue, 05 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417202