Court Upholds CoC Request to Reconsider Resolution Plan Clause, Ensuring Promoters' Liability on Personal Guarantees Remains Intact. https://www.taxtmi.com/highlights?id=68256 Remission of Resolution Plan back to the CoC for reconsideration, at the request of Financial Creditors - The present is a case where CoC is not asking to withdraw from the Plan or asking for reviewing the entire Resolution Plan rather CoC has asked for leave of the Court for deleting clause in the plan which sought to release the promoters from personal guarantee given to the Financial Creditors. - Order cannot be held as invalid - AT en-us Tue, 14 Feb 2023 13:21:49 +0530 Tue, 14 Feb 2023 13:21:49 +0530 TaxTMI RSS Generator Court Upholds CoC Request to Reconsider Resolution Plan Clause, Ensuring Promoters' Liability on Personal Guarantees Remains Intact. https://www.taxtmi.com/highlights?id=68256 Remission of Resolution Plan back to the CoC for reconsideration, at the request of Financial Creditors - The present is a case where CoC is not asking to withdraw from the Plan or asking for reviewing the entire Resolution Plan rather CoC has asked for leave of the Court for deleting clause in the plan which sought to release the promoters from personal guarantee given to the Financial Creditors. - Order cannot be held as invalid - AT Highlights Insolvency and Bankruptcy Tue, 14 Feb 2023 13:21:49 +0530 https://www.taxtmi.com/highlights?id=68256