https://www.taxtmi.com/caselaws?id=428344 Homebuyers constitute a distinct class of financial creditors and cannot claim individual dissenting creditor status to demand separate liquidation value outside the class vote. Communication of resolution plan addendums to the authorised representative was treated as communication to the entire class, and the class vote cast in accordance with the statutory majority bound all members. Allegations of procedural irregularity in the voting process were rejected. Environmental clearance concerns did not justify refusal of the plan where steps had already been taken before the competent authorities to obtain approval. The challenge to the resolution plan failed on all substantive grounds and was dismissed. en-us Fri, 23 Sep 2022 00:00:00 +0530 Thu, 29 Sep 2022 09:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428344 Homebuyers constitute a distinct class of financial creditors and cannot claim individual dissenting creditor status to demand separate liquidation value outside the class vote. Communication of resolution plan addendums to the authorised representative was treated as communication to the entire class, and the class vote cast in accordance with the statutory majority bound all members. Allegations of procedural irregularity in the voting process were rejected. Environmental clearance concerns did not justify refusal of the plan where steps had already been taken before the competent authorities to obtain approval. The challenge to the resolution plan failed on all substantive grounds and was dismissed. Case-Laws Insolvency and Bankruptcy Fri, 23 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428344