https://www.taxtmi.com/caselaws?id=431941 A resolution plan approved under the insolvency framework was challenged for alleged procedural irregularity, pending objections, and discriminatory treatment of creditor classes. The tribunal record showed no material breach of natural justice in the approval process, and pending objections did not justify reopening a plan that had already been approved and implemented. The plan's differential treatment of GMADA and other creditors was upheld as a matter of commercial wisdom, because different classes may be treated differently if statutory requirements are met and no clear contravention of the Code is shown. The approval was therefore sustained and interference refused. en-us Thu, 22 Dec 2022 00:00:00 +0530 Sat, 24 Dec 2022 13:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431941 A resolution plan approved under the insolvency framework was challenged for alleged procedural irregularity, pending objections, and discriminatory treatment of creditor classes. The tribunal record showed no material breach of natural justice in the approval process, and pending objections did not justify reopening a plan that had already been approved and implemented. The plan's differential treatment of GMADA and other creditors was upheld as a matter of commercial wisdom, because different classes may be treated differently if statutory requirements are met and no clear contravention of the Code is shown. The approval was therefore sustained and interference refused. Case-Laws Insolvency and Bankruptcy Thu, 22 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431941