https://www.taxtmi.com/caselaws?id=431612 The Appellate Tribunal upheld the Adjudicating Authority's decision to reject the application filed by 68 home buyers challenging the approval of the resolution plan in a Corporate Insolvency Resolution Process. The Tribunal emphasized the principle that minority home buyers must adhere to the majority decision of the Committee of Creditors (CoC) and dismissed the appellants' objections. It affirmed the democratic nature of the approval process under the Insolvency and Bankruptcy Code, concluding that the objections raised were insufficient to challenge the CoC's decision, and upheld the rejection of the appeal. en-us Thu, 15 Dec 2022 00:00:00 +0530 Sat, 17 Dec 2022 12:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431612 The Appellate Tribunal upheld the Adjudicating Authority's decision to reject the application filed by 68 home buyers challenging the approval of the resolution plan in a Corporate Insolvency Resolution Process. The Tribunal emphasized the principle that minority home buyers must adhere to the majority decision of the Committee of Creditors (CoC) and dismissed the appellants' objections. It affirmed the democratic nature of the approval process under the Insolvency and Bankruptcy Code, concluding that the objections raised were insufficient to challenge the CoC's decision, and upheld the rejection of the appeal. Case-Laws Insolvency and Bankruptcy Thu, 15 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431612