https://www.taxtmi.com/caselaws?id=431937 Approval of a resolution plan under the Insolvency and Bankruptcy Code will not be disturbed merely because provident fund dues were not paid in full, where the plan was approved by the committee of creditors with 97.18% voting share and found compliant with the Code and applicable regulations. Appellate review is confined to statutory parameters and does not extend to reassessing the commercial wisdom of the committee of creditors. The provident fund authority's claim was treated as an operational or statutory dues claim within the resolution process, and no legal flaw was shown that justified interference with the approval order. The challenge was therefore rejected and the resolution plan approval was upheld. en-us Fri, 09 Dec 2022 00:00:00 +0530 Sat, 24 Dec 2022 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431937 Approval of a resolution plan under the Insolvency and Bankruptcy Code will not be disturbed merely because provident fund dues were not paid in full, where the plan was approved by the committee of creditors with 97.18% voting share and found compliant with the Code and applicable regulations. Appellate review is confined to statutory parameters and does not extend to reassessing the commercial wisdom of the committee of creditors. The provident fund authority's claim was treated as an operational or statutory dues claim within the resolution process, and no legal flaw was shown that justified interference with the approval order. The challenge was therefore rejected and the resolution plan approval was upheld. Case-Laws Insolvency and Bankruptcy Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431937