https://www.taxtmi.com/caselaws?id=428006 The Tribunal set aside the Adjudicating Authority's direction to consider a resolution plan submitted after the CIRP period, emphasizing the plan's non-binding nature. It deemed the extension of the CIRP period beyond 330 days unjustified and against the law. The Tribunal upheld the CoC's commercial decisions, stating the Adjudicating Authority lacked jurisdiction to interfere. It emphasized the binding nature of a CoC-approved resolution plan and ruled in favor of the Appellant, setting aside the impugned order and making the interim order absolute. en-us Mon, 19 Sep 2022 00:00:00 +0530 Thu, 22 Sep 2022 09:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428006 The Tribunal set aside the Adjudicating Authority's direction to consider a resolution plan submitted after the CIRP period, emphasizing the plan's non-binding nature. It deemed the extension of the CIRP period beyond 330 days unjustified and against the law. The Tribunal upheld the CoC's commercial decisions, stating the Adjudicating Authority lacked jurisdiction to interfere. It emphasized the binding nature of a CoC-approved resolution plan and ruled in favor of the Appellant, setting aside the impugned order and making the interim order absolute. Case-Laws Insolvency and Bankruptcy Mon, 19 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428006