https://www.taxtmi.com/caselaws?id=428645 The Tribunal directed the Committee of Creditors (CoC) to reconsider the resolution plan submitted by the applicant, an Ex. Promoter of the Corporate Debtor, despite the delay in depositing the Earnest Money Deposit (EMD). The Tribunal emphasized the value of the plan and the applicant's willingness to deposit the EMD, ordering CoC to assess the plan on its merits without being influenced by the delayed EMD submission. The decision highlighted the importance of prompt action by CoC and Resolution Professional (RP) to avoid prolonging the resolution process. en-us Fri, 30 Sep 2022 00:00:00 +0530 Fri, 07 Oct 2022 13:09:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428645 The Tribunal directed the Committee of Creditors (CoC) to reconsider the resolution plan submitted by the applicant, an Ex. Promoter of the Corporate Debtor, despite the delay in depositing the Earnest Money Deposit (EMD). The Tribunal emphasized the value of the plan and the applicant's willingness to deposit the EMD, ordering CoC to assess the plan on its merits without being influenced by the delayed EMD submission. The decision highlighted the importance of prompt action by CoC and Resolution Professional (RP) to avoid prolonging the resolution process. Case-Laws Insolvency and Bankruptcy Fri, 30 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428645