https://www.taxtmi.com/caselaws?id=429145 The Tribunal dismissed the Appeal challenging the approval of the Resolution Plan by the Adjudicating Authority. The Resolution Plan, approved by 99.97% of the Committee of Creditors, faced objections from the Appellant not part of the CoC. The Tribunal rejected the addition of 35 homebuyers/Financial Creditors in a class on record due to lack of voting on the Plan. The Appeal's arguments regarding project-wise voting, procedural violations, and rights of financial creditors' representatives were addressed, affirming the binding nature of the majority decision. The Resolution Plan's clauses aimed at protecting homebuyers' interests were deemed just, leading to the dismissal of the Appeal. en-us Wed, 12 Oct 2022 00:00:00 +0530 Wed, 19 Oct 2022 09:06:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=429145 The Tribunal dismissed the Appeal challenging the approval of the Resolution Plan by the Adjudicating Authority. The Resolution Plan, approved by 99.97% of the Committee of Creditors, faced objections from the Appellant not part of the CoC. The Tribunal rejected the addition of 35 homebuyers/Financial Creditors in a class on record due to lack of voting on the Plan. The Appeal's arguments regarding project-wise voting, procedural violations, and rights of financial creditors' representatives were addressed, affirming the binding nature of the majority decision. The Resolution Plan's clauses aimed at protecting homebuyers' interests were deemed just, leading to the dismissal of the Appeal. Case-Laws Insolvency and Bankruptcy Wed, 12 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=429145