https://www.taxtmi.com/caselaws?id=419662 A resolution plan under the Insolvency and Bankruptcy Code must meet the statutory minimum payable to operational creditors by reference to the liquidation framework, including proper treatment of workmen's dues and exclusion of provident fund, pension fund and gratuity from the liquidation estate; the plan was sustained with limited modification on that basis. Disputes over the composition of the Committee of Creditors and a secured creditor's voting share did not invalidate approval where the creditor's share remained substantial and the plan was unanimously approved. Pending avoidance proceedings and asserted Section 29A ineligibility did not, by themselves, unsettle an approved plan, as such matters were treated as collateral to the resolution process. en-us Wed, 16 Mar 2022 00:00:00 +0530 Wed, 16 Mar 2022 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419662 A resolution plan under the Insolvency and Bankruptcy Code must meet the statutory minimum payable to operational creditors by reference to the liquidation framework, including proper treatment of workmen's dues and exclusion of provident fund, pension fund and gratuity from the liquidation estate; the plan was sustained with limited modification on that basis. Disputes over the composition of the Committee of Creditors and a secured creditor's voting share did not invalidate approval where the creditor's share remained substantial and the plan was unanimously approved. Pending avoidance proceedings and asserted Section 29A ineligibility did not, by themselves, unsettle an approved plan, as such matters were treated as collateral to the resolution process. Case-Laws Insolvency and Bankruptcy Wed, 16 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419662