https://www.taxtmi.com/caselaws?id=435511 After approval and sanction of a resolution plan under the Insolvency and Bankruptcy Code, the adjudicating authority cannot use a later application to alter the plan's substance. Where the approved plan granted only a perpetual exclusive right to use the corporate debtor's trademarks, a subsequent declaration that the trademarks belonged to the corporate debtor went beyond the sanctioned terms and changed the legal position from use to ownership. Such substantive modification was impermissible under the insolvency framework, and the adjudicating authority could not travel outside the plan or its statutory jurisdiction. The declaration of ownership was therefore rightly set aside. en-us Fri, 17 Mar 2023 00:00:00 +0530 Wed, 22 Mar 2023 08:39:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=435511 After approval and sanction of a resolution plan under the Insolvency and Bankruptcy Code, the adjudicating authority cannot use a later application to alter the plan's substance. Where the approved plan granted only a perpetual exclusive right to use the corporate debtor's trademarks, a subsequent declaration that the trademarks belonged to the corporate debtor went beyond the sanctioned terms and changed the legal position from use to ownership. Such substantive modification was impermissible under the insolvency framework, and the adjudicating authority could not travel outside the plan or its statutory jurisdiction. The declaration of ownership was therefore rightly set aside. Case-Laws Insolvency and Bankruptcy Fri, 17 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=435511