https://www.taxtmi.com/caselaws?id=428064 The Tribunal upheld the Adjudicating Authority's decision to dismiss the application due to lack of locus standi post-approval of the Resolution Plan. It emphasized the Resolution Professional's limited role after plan approval and concluded that the new management should handle legal proceedings. The Tribunal found that the Resolution Professional lacked the authority to maintain the application after plan approval, in line with the provisions of the Insolvency and Bankruptcy Code. As a result, the appeal was dismissed without costs. en-us Tue, 20 Sep 2022 00:00:00 +0530 Fri, 23 Sep 2022 08:24:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428064 The Tribunal upheld the Adjudicating Authority's decision to dismiss the application due to lack of locus standi post-approval of the Resolution Plan. It emphasized the Resolution Professional's limited role after plan approval and concluded that the new management should handle legal proceedings. The Tribunal found that the Resolution Professional lacked the authority to maintain the application after plan approval, in line with the provisions of the Insolvency and Bankruptcy Code. As a result, the appeal was dismissed without costs. Case-Laws Insolvency and Bankruptcy Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428064