https://www.taxtmi.com/caselaws?id=432601 The Appellate Tribunal affirmed the National Company Law Tribunal (NCLT) Hyderabad Bench-I's approval of the Resolution Plan submitted by the Resolution Applicant, endorsed by 100% voting share of the Committee of Creditors. The plan was deemed feasible, meeting CIRP Regulations requirements, with priority payment provisions. No allocation to Operational Creditors was made, citing IBC provisions. The Tribunal upheld the plan's binding nature on government entities, dismissing the appeal and concluding that the Adjudicating Authority's decision aligned with IBC provisions, referencing previous judgments. en-us Thu, 05 Jan 2023 00:00:00 +0530 Mon, 09 Jan 2023 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432601 The Appellate Tribunal affirmed the National Company Law Tribunal (NCLT) Hyderabad Bench-I's approval of the Resolution Plan submitted by the Resolution Applicant, endorsed by 100% voting share of the Committee of Creditors. The plan was deemed feasible, meeting CIRP Regulations requirements, with priority payment provisions. No allocation to Operational Creditors was made, citing IBC provisions. The Tribunal upheld the plan's binding nature on government entities, dismissing the appeal and concluding that the Adjudicating Authority's decision aligned with IBC provisions, referencing previous judgments. Case-Laws Insolvency and Bankruptcy Thu, 05 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432601