https://www.taxtmi.com/caselaws?id=420707 The Tribunal dismissed the Appeal challenging the rejection of I.A (IB) No. 644/KB/2021 by the Adjudicating Authority. The Resolution Plan submitted by Respondent No.3 was approved by the Committee of Creditors (CoC), and the inclusion of Respondent No.3 as a Prospective Resolution Applicant was upheld. The Tribunal found the CoC's decision valid and emphasized maximizing the assets of the Corporate Debtor. The Appellant's submission regarding the Scheme under Section 230 of the Companies Act, 2013 was also rejected due to ineligibility under Section 29A of the Code. The Appeal was dismissed with no merit found in the Appellant's arguments. en-us Wed, 06 Apr 2022 00:00:00 +0530 Fri, 08 Apr 2022 08:03:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420707 The Tribunal dismissed the Appeal challenging the rejection of I.A (IB) No. 644/KB/2021 by the Adjudicating Authority. The Resolution Plan submitted by Respondent No.3 was approved by the Committee of Creditors (CoC), and the inclusion of Respondent No.3 as a Prospective Resolution Applicant was upheld. The Tribunal found the CoC's decision valid and emphasized maximizing the assets of the Corporate Debtor. The Appellant's submission regarding the Scheme under Section 230 of the Companies Act, 2013 was also rejected due to ineligibility under Section 29A of the Code. The Appeal was dismissed with no merit found in the Appellant's arguments. Case-Laws Insolvency and Bankruptcy Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420707