https://www.taxtmi.com/caselaws?id=423368 The Tribunal upheld the Committee of Creditors' decision to reject the Applicant's resolution plan, emphasizing the CoC's exclusive authority in evaluating plans. The Applicant's claims of non-compliance by the Resolution Professional were dismissed, citing lack of merit due to equal votes on both plans. The Tribunal affirmed the Resolution Professional's right to seek additional information for Section 29A eligibility. Despite accusations of material facts suppression, the CoC allowed the Applicant to proceed. The Tribunal reiterated that unsuccessful applicants have no vested right for plan consideration, dismissing the Applicant's claims and vacating the interim order without costs. en-us Fri, 13 May 2022 00:00:00 +0530 Sat, 04 Jun 2022 14:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423368 The Tribunal upheld the Committee of Creditors' decision to reject the Applicant's resolution plan, emphasizing the CoC's exclusive authority in evaluating plans. The Applicant's claims of non-compliance by the Resolution Professional were dismissed, citing lack of merit due to equal votes on both plans. The Tribunal affirmed the Resolution Professional's right to seek additional information for Section 29A eligibility. Despite accusations of material facts suppression, the CoC allowed the Applicant to proceed. The Tribunal reiterated that unsuccessful applicants have no vested right for plan consideration, dismissing the Applicant's claims and vacating the interim order without costs. Case-Laws Insolvency and Bankruptcy Fri, 13 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423368