https://www.taxtmi.com/caselaws?id=417405 The Tribunal upheld that the Appellant, the Government of India, qualifies as an Operational Creditor under the Insolvency and Bankruptcy Code. It ruled that statutory dues are considered Operational Debt and do not require special treatment. The Committee of Creditors' commercial decisions are paramount, as long as they comply with the Code. The Tribunal found the Committee had followed all regulations, and the approved Resolution Plan fairly considered all stakeholders. The appeal was dismissed, affirming the Adjudicating Authority's order as compliant with the law, and no costs were awarded. en-us Tue, 18 Jan 2022 00:00:00 +0530 Sat, 22 Jan 2022 12:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417405 The Tribunal upheld that the Appellant, the Government of India, qualifies as an Operational Creditor under the Insolvency and Bankruptcy Code. It ruled that statutory dues are considered Operational Debt and do not require special treatment. The Committee of Creditors' commercial decisions are paramount, as long as they comply with the Code. The Tribunal found the Committee had followed all regulations, and the approved Resolution Plan fairly considered all stakeholders. The appeal was dismissed, affirming the Adjudicating Authority's order as compliant with the law, and no costs were awarded. Case-Laws Insolvency and Bankruptcy Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417405