https://www.taxtmi.com/caselaws?id=439939 Lockdown periods may be excluded from the corporate insolvency resolution process timeline under the applicable regulation, and the absence of a separate day-wise tabulation does not invalidate relief that expressly grants exclusion. A challenge to resolution applicant eligibility under Section 29A failed because the alleged disqualification of a shareholder/director as an undischarged insolvent was not established on the record. The rejection of a settlement offer and approval of the resolution plan were also upheld, since the plan value was higher than liquidation value and the Committee of Creditors' commercial wisdom, supported by 100% voting, was not open to interference absent legal infirmity. en-us Tue, 04 Jul 2023 00:00:00 +0530 Wed, 05 Jul 2023 15:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=439939 Lockdown periods may be excluded from the corporate insolvency resolution process timeline under the applicable regulation, and the absence of a separate day-wise tabulation does not invalidate relief that expressly grants exclusion. A challenge to resolution applicant eligibility under Section 29A failed because the alleged disqualification of a shareholder/director as an undischarged insolvent was not established on the record. The rejection of a settlement offer and approval of the resolution plan were also upheld, since the plan value was higher than liquidation value and the Committee of Creditors' commercial wisdom, supported by 100% voting, was not open to interference absent legal infirmity. Case-Laws Insolvency and Bankruptcy Tue, 04 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=439939