https://www.taxtmi.com/caselaws?id=430769 After approval of a resolution plan, the Adjudicating Authority cannot grant indefinite extensions to the implementation timetable where the plan fixes an effective date and consequences for default, and the Insolvency and Bankruptcy Code does not confer such power contrary to the plan's express terms. The record also disclosed no breach of natural justice because the appellant's applications were considered and the dismissal was reasoned. Having missed the contractual timelines and failed even after earlier indulgence, the appellant could not resist a fresh CIRP, and no further statutory or equitable relief remained available. The impugned order was therefore found free from legal infirmity. en-us Fri, 25 Nov 2022 00:00:00 +0530 Mon, 28 Nov 2022 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430769 After approval of a resolution plan, the Adjudicating Authority cannot grant indefinite extensions to the implementation timetable where the plan fixes an effective date and consequences for default, and the Insolvency and Bankruptcy Code does not confer such power contrary to the plan's express terms. The record also disclosed no breach of natural justice because the appellant's applications were considered and the dismissal was reasoned. Having missed the contractual timelines and failed even after earlier indulgence, the appellant could not resist a fresh CIRP, and no further statutory or equitable relief remained available. The impugned order was therefore found free from legal infirmity. Case-Laws Insolvency and Bankruptcy Fri, 25 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430769