https://www.taxtmi.com/caselaws?id=303891 Issue 1: The Tribunal dismissed DSM Infocom Pvt Ltd's application seeking permission to submit an Expression of Interest (EoI) and Resolution Plan for the Corporate Debtor, citing the CoC-approved Resolution Plan filed by another party. DSM was deemed ineligible due to its status as a willful defaulter under Section 29A of the IBC. Issue 2: Ricoh India Ltd and Systel Technologies Services Pvt Ltd were granted declarations of entitlement to funds in Escrow Accounts related to projects with the Corporate Debtor, as per Section 60(5) of the Code. Issue 3: The Tribunal dismissed the Commercial Tax Department's claim due to ongoing legal disputes. Issue 4: The Tribunal approved the resolution plan submitted by Ebix Software India Pvt Ltd under Section 30(6) of the IBC, with modifications. Issue 5: Axis Bank's request to change its vote on the resolution plan was denied by the CoC, and the Tribunal upheld the CoC's decision. en-us Mon, 04 May 2020 00:00:00 +0530 Tue, 23 Aug 2022 21:45:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303891 Issue 1: The Tribunal dismissed DSM Infocom Pvt Ltd's application seeking permission to submit an Expression of Interest (EoI) and Resolution Plan for the Corporate Debtor, citing the CoC-approved Resolution Plan filed by another party. DSM was deemed ineligible due to its status as a willful defaulter under Section 29A of the IBC. Issue 2: Ricoh India Ltd and Systel Technologies Services Pvt Ltd were granted declarations of entitlement to funds in Escrow Accounts related to projects with the Corporate Debtor, as per Section 60(5) of the Code. Issue 3: The Tribunal dismissed the Commercial Tax Department's claim due to ongoing legal disputes. Issue 4: The Tribunal approved the resolution plan submitted by Ebix Software India Pvt Ltd under Section 30(6) of the IBC, with modifications. Issue 5: Axis Bank's request to change its vote on the resolution plan was denied by the CoC, and the Tribunal upheld the CoC's decision. Case-Laws Insolvency and Bankruptcy Mon, 04 May 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303891