https://www.taxtmi.com/caselaws?id=423777 The Tribunal ruled in favor of the Applicant, a bank, in a case concerning the implementation of a Resolution Plan under the Insolvency and Bankruptcy Code. The Respondent, the successful Resolution Applicant, was found to have breached the approved plan by failing to make payments as required. Due to the impact of the Covid-19 pandemic on property valuations, the Tribunal emphasized the need for compliance with the Resolution Plan to revive the Corporate Debtor. The Tribunal directed the Respondent to make the outstanding payments within a specified timeframe to facilitate the revival process and avoid liquidation. en-us Wed, 08 Jun 2022 00:00:00 +0530 Wed, 15 Jun 2022 09:17:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423777 The Tribunal ruled in favor of the Applicant, a bank, in a case concerning the implementation of a Resolution Plan under the Insolvency and Bankruptcy Code. The Respondent, the successful Resolution Applicant, was found to have breached the approved plan by failing to make payments as required. Due to the impact of the Covid-19 pandemic on property valuations, the Tribunal emphasized the need for compliance with the Resolution Plan to revive the Corporate Debtor. The Tribunal directed the Respondent to make the outstanding payments within a specified timeframe to facilitate the revival process and avoid liquidation. Case-Laws Insolvency and Bankruptcy Wed, 08 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423777