https://www.taxtmi.com/caselaws?id=430083 The tribunal found that the exclusion of the Appellant, a financial creditor, from the Committee of Creditors (CoC) by the Interim Resolution Professional (IRP) was unjustified. The decisions taken in the first CoC meeting without the Appellant, including confirming the appointment of the IRP and raising interim finance, were deemed substantive and invalidated due to the Appellant's exclusion. The tribunal allowed the appeal, set aside the impugned order, and directed that decisions from the meeting not be implemented until ratified or modified in the next CoC meeting. The importance of proper inclusion of financial creditors in the CoC was emphasized. en-us Thu, 10 Nov 2022 00:00:00 +0530 Fri, 11 Nov 2022 09:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430083 The tribunal found that the exclusion of the Appellant, a financial creditor, from the Committee of Creditors (CoC) by the Interim Resolution Professional (IRP) was unjustified. The decisions taken in the first CoC meeting without the Appellant, including confirming the appointment of the IRP and raising interim finance, were deemed substantive and invalidated due to the Appellant's exclusion. The tribunal allowed the appeal, set aside the impugned order, and directed that decisions from the meeting not be implemented until ratified or modified in the next CoC meeting. The importance of proper inclusion of financial creditors in the CoC was emphasized. Case-Laws Insolvency and Bankruptcy Thu, 10 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430083