https://www.taxtmi.com/caselaws?id=436191 The Appellate Tribunal upheld the approval of the Resolution Plan by the Committee of Creditors, despite objections raised by an Unsecured Financial Creditor regarding fairness, compliance with the law, treatment of Operational Creditors, and involvement of a potentially fraudulent company. The Tribunal emphasized the commercial wisdom of the Committee of Creditors and limited grounds for challenging the plan's approval. It noted that allocation to creditors, including the objecting party, above the liquidation value does not invalidate the plan. The Tribunal dismissed the appeal, stating it could not interfere with the approved Resolution Plan. en-us Mon, 03 Apr 2023 00:00:00 +0530 Thu, 06 Apr 2023 18:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436191 The Appellate Tribunal upheld the approval of the Resolution Plan by the Committee of Creditors, despite objections raised by an Unsecured Financial Creditor regarding fairness, compliance with the law, treatment of Operational Creditors, and involvement of a potentially fraudulent company. The Tribunal emphasized the commercial wisdom of the Committee of Creditors and limited grounds for challenging the plan's approval. It noted that allocation to creditors, including the objecting party, above the liquidation value does not invalidate the plan. The Tribunal dismissed the appeal, stating it could not interfere with the approved Resolution Plan. Case-Laws Insolvency and Bankruptcy Mon, 03 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436191