https://www.taxtmi.com/caselaws?id=426872 The tribunal upheld the Adjudicating Authority's approval of the revised Resolution Plan, dismissing the appeal challenging alleged irregularities. It found substantial procedural compliance by the Resolution Professional and Authorised Representative, emphasizing the binding nature of the majority decision within a class of creditors. Despite procedural deviations, the tribunal determined that they did not impact the outcome significantly, as the Resolution Plan was overwhelmingly approved by the Committee of Creditors. The appeal was therefore dismissed, highlighting the importance of upholding the integrity of Corporate Insolvency Resolution Process (CIRP) proceedings. en-us Wed, 24 Aug 2022 00:00:00 +0530 Sat, 27 Aug 2022 08:16:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426872 The tribunal upheld the Adjudicating Authority's approval of the revised Resolution Plan, dismissing the appeal challenging alleged irregularities. It found substantial procedural compliance by the Resolution Professional and Authorised Representative, emphasizing the binding nature of the majority decision within a class of creditors. Despite procedural deviations, the tribunal determined that they did not impact the outcome significantly, as the Resolution Plan was overwhelmingly approved by the Committee of Creditors. The appeal was therefore dismissed, highlighting the importance of upholding the integrity of Corporate Insolvency Resolution Process (CIRP) proceedings. Case-Laws Insolvency and Bankruptcy Wed, 24 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426872