https://www.taxtmi.com/highlights?id=67253 Approval of resolution plan - Seeking a direction to the Resolution Professional (RP) to call for a Meeting at the CoC - It is reiterated that the ‘Maximisation of Value of Assets’ ought to be ‘within the specified timelines’ and if it is not a ‘timebound process’, the entire scope and objective of the Code would fail merely because there is another higher offer made by a third party, the CoC cannot consider another Plan of a third party who did not participate in the CIRP Proceedings. - AT en-us Wed, 21 Dec 2022 15:52:26 +0530 Wed, 21 Dec 2022 15:52:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67253 Approval of resolution plan - Seeking a direction to the Resolution Professional (RP) to call for a Meeting at the CoC - It is reiterated that the ‘Maximisation of Value of Assets’ ought to be ‘within the specified timelines’ and if it is not a ‘timebound process’, the entire scope and objective of the Code would fail merely because there is another higher offer made by a third party, the CoC cannot consider another Plan of a third party who did not participate in the CIRP Proceedings. - AT Highlights Insolvency and Bankruptcy Wed, 21 Dec 2022 15:52:26 +0530 https://www.taxtmi.com/highlights?id=67253