https://www.taxtmi.com/caselaws?id=419591 The Tribunal held that the approval of the resolution plan effectively extinguished the unpaid debt by converting it into preference shares, thereby discharging the enforcement of excluded securities. The conversion of debt into preference shares rendered the excluded securities unenforceable. The dissenting financial creditor's rights were found to be subject to the majority decision of the Committee of Creditors, which approved the resolution plan. The Tribunal dismissed the application, stating that there was no remaining debt to enforce against the excluded securities. en-us Thu, 03 Feb 2022 00:00:00 +0530 Wed, 16 Mar 2022 10:16:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419591 The Tribunal held that the approval of the resolution plan effectively extinguished the unpaid debt by converting it into preference shares, thereby discharging the enforcement of excluded securities. The conversion of debt into preference shares rendered the excluded securities unenforceable. The dissenting financial creditor's rights were found to be subject to the majority decision of the Committee of Creditors, which approved the resolution plan. The Tribunal dismissed the application, stating that there was no remaining debt to enforce against the excluded securities. Case-Laws Insolvency and Bankruptcy Thu, 03 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419591