https://www.taxtmi.com/caselaws?id=307053 An approved resolution plan under the Insolvency and Bankruptcy Code remains binding once statutory requirements are met, and adjudicating or appellate forums cannot substitute their commercial assessment for that of the Committee of Creditors. Refusal to grant waivers or related reliefs concerning the Kharagpur land did not amount to impermissible modification where the plan itself contemplated that non-grant of approvals would not jeopardise implementation. A resolution applicant cannot withdraw merely by alleging post-approval unviability when the plan was already binding and implementation had stalled earlier. Objections based on Section 29A ineligibility, alleged CIRP illegality, asset inclusion disputes, rejected claims, and distribution methodology were not shown to create legal infirmity. en-us Thu, 04 Mar 2021 00:00:00 +0530 Wed, 15 Mar 2023 21:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307053 An approved resolution plan under the Insolvency and Bankruptcy Code remains binding once statutory requirements are met, and adjudicating or appellate forums cannot substitute their commercial assessment for that of the Committee of Creditors. Refusal to grant waivers or related reliefs concerning the Kharagpur land did not amount to impermissible modification where the plan itself contemplated that non-grant of approvals would not jeopardise implementation. A resolution applicant cannot withdraw merely by alleging post-approval unviability when the plan was already binding and implementation had stalled earlier. Objections based on Section 29A ineligibility, alleged CIRP illegality, asset inclusion disputes, rejected claims, and distribution methodology were not shown to create legal infirmity. Case-Laws Insolvency and Bankruptcy Thu, 04 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307053