https://www.taxtmi.com/caselaws?id=424756 The Tribunal upheld the decision of the CoC to approve a different resolution plan over the Applicants' plan, citing commercial feasibility and concerns over payment terms and personal guarantees. The CoC's decision was deemed valid, as the Applicants failed to timely revise their plan during the meeting. The Tribunal found no procedural irregularities or violations of the Insolvency and Bankruptcy Code, ultimately rejecting the Applicants' challenge to the CoC meeting decision and direction to consider their resolution plan. en-us Wed, 29 Jun 2022 00:00:00 +0530 Fri, 08 Jul 2022 09:33:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424756 The Tribunal upheld the decision of the CoC to approve a different resolution plan over the Applicants' plan, citing commercial feasibility and concerns over payment terms and personal guarantees. The CoC's decision was deemed valid, as the Applicants failed to timely revise their plan during the meeting. The Tribunal found no procedural irregularities or violations of the Insolvency and Bankruptcy Code, ultimately rejecting the Applicants' challenge to the CoC meeting decision and direction to consider their resolution plan. Case-Laws Insolvency and Bankruptcy Wed, 29 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424756