https://www.taxtmi.com/caselaws?id=418371 The Appeal challenging the approval of the Resolution Plan was dismissed. The Appellant's claims of irregularities and lack of transparency in the Corporate Insolvency Resolution Process (CIRP) were not upheld. Concerns over non-consideration of a Settlement Proposal offering higher repayment were addressed, with the Court finding the approved Resolution Plan to be in line with the objective of maximizing the value of the Corporate Debtor. Allegations of undervaluation of assets, malafide conduct, and denial of participation were also dismissed. The decision clarified that superseded directors have no right to participate in COC meetings post their removal. The Appeal was decided without costs. en-us Mon, 14 Feb 2022 00:00:00 +0530 Wed, 16 Feb 2022 08:11:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418371 The Appeal challenging the approval of the Resolution Plan was dismissed. The Appellant's claims of irregularities and lack of transparency in the Corporate Insolvency Resolution Process (CIRP) were not upheld. Concerns over non-consideration of a Settlement Proposal offering higher repayment were addressed, with the Court finding the approved Resolution Plan to be in line with the objective of maximizing the value of the Corporate Debtor. Allegations of undervaluation of assets, malafide conduct, and denial of participation were also dismissed. The decision clarified that superseded directors have no right to participate in COC meetings post their removal. The Appeal was decided without costs. Case-Laws Insolvency and Bankruptcy Mon, 14 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418371