https://www.taxtmi.com/caselaws?id=418423 Approved resolution plans under the Insolvency and Bankruptcy Code are protected by the committee of creditors' commercial wisdom, and judicial scrutiny remains limited to compliance with Section 30(2) and effective implementation under Section 31. Where the plan was supported by dual valuation and the plan value exceeded liquidation value, allegations of undervaluation and inadequate payment to an operational creditor did not justify interference. The Code's overriding effect under Section 238 also meant that pre-approval claims linked to Special Economic Zone transfer or renewal charges, if not included in the plan, did not invalidate it. The approved plan was sustained and the challenge failed. en-us Mon, 14 Feb 2022 00:00:00 +0530 Wed, 16 Feb 2022 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418423 Approved resolution plans under the Insolvency and Bankruptcy Code are protected by the committee of creditors' commercial wisdom, and judicial scrutiny remains limited to compliance with Section 30(2) and effective implementation under Section 31. Where the plan was supported by dual valuation and the plan value exceeded liquidation value, allegations of undervaluation and inadequate payment to an operational creditor did not justify interference. The Code's overriding effect under Section 238 also meant that pre-approval claims linked to Special Economic Zone transfer or renewal charges, if not included in the plan, did not invalidate it. The approved plan was sustained and the challenge failed. Case-Laws Insolvency and Bankruptcy Mon, 14 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418423