https://www.taxtmi.com/caselaws?id=419598 The Tribunal partially allowed the application, directing the Resolution Professional (RP) to present the Resolution Plan before the Committee of Creditors (CoC) for assessment of eligibility under Section 29A. The CoC was instructed to evaluate the Plan independently, considering the materials provided by the RP, to ensure a lawful decision-making process. The Tribunal refrained from commenting on the validity of the RP's rejection to maintain the CoC's impartial evaluation post-assessment, emphasizing the importance of CoC's role in evaluating Resolution Plans. en-us Mon, 28 Feb 2022 00:00:00 +0530 Wed, 16 Mar 2022 10:16:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419598 The Tribunal partially allowed the application, directing the Resolution Professional (RP) to present the Resolution Plan before the Committee of Creditors (CoC) for assessment of eligibility under Section 29A. The CoC was instructed to evaluate the Plan independently, considering the materials provided by the RP, to ensure a lawful decision-making process. The Tribunal refrained from commenting on the validity of the RP's rejection to maintain the CoC's impartial evaluation post-assessment, emphasizing the importance of CoC's role in evaluating Resolution Plans. Case-Laws Insolvency and Bankruptcy Mon, 28 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419598