Tribunal Rules: CoC Can't Call for Final Compliant Resolution Plans Post-Negotiation; Applicant's Plan Stands Approved.

Tribunal Rules: CoC Can't Call for Final Compliant Resolution Plans Post-Negotiation; Applicant's Plan Stands Approved. https://www.taxtmi.com/highlights?id=65148 Power of RP or CoC to call for final compliant Resolution Plan once the CoC concluded the negotiations on Resolution Plans - only resolution plan submitted by the applicant was deemed to be approved - this Tribunal is of the view that the amendment is only to consider the feasibility, viability of each plan and not to call fresh resolution plans (decided by RP) under the guise of final compliant resolution plan. - AT en-us Thu, 18 Aug 2022 15:43:46 +0530 Thu, 18 Aug 2022 15:43:46 +0530 TaxTMI RSS Generator Tribunal Rules: CoC Can't Call for Final Compliant Resolution Plans Post-Negotiation; Applicant's Plan Stands Approved. https://www.taxtmi.com/highlights?id=65148 Power of RP or CoC to call for final compliant Resolution Plan once the CoC concluded the negotiations on Resolution Plans - only resolution plan submitted by the applicant was deemed to be approved - this Tribunal is of the view that the amendment is only to consider the feasibility, viability of each plan and not to call fresh resolution plans (decided by RP) under the guise of final compliant resolution plan. - AT Highlights Insolvency and Bankruptcy Thu, 18 Aug 2022 15:43:46 +0530 https://www.taxtmi.com/highlights?id=65148