https://www.taxtmi.com/caselaws?id=441509 A settlement in an insolvency dispute was accepted where it secured payment to flat buyers, avoided restarting the insolvency process, and allowed the approved resolution plan to proceed before the NCLT. The compromise included withdrawal of pending proceedings and a monetary sacrifice by the appellant, which the Court treated as serving the real beneficiaries of the process. The Court also held that defaulting promoters could not derive any benefit from the impugned related-party finding, noting that the appellant had entered the project as an investor and that the resolution plan would in any event receive the required support. The connected controversies were closed to bring finality to the matter. en-us Thu, 27 Jul 2023 00:00:00 +0530 Tue, 08 Aug 2023 12:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441509 A settlement in an insolvency dispute was accepted where it secured payment to flat buyers, avoided restarting the insolvency process, and allowed the approved resolution plan to proceed before the NCLT. The compromise included withdrawal of pending proceedings and a monetary sacrifice by the appellant, which the Court treated as serving the real beneficiaries of the process. The Court also held that defaulting promoters could not derive any benefit from the impugned related-party finding, noting that the appellant had entered the project as an investor and that the resolution plan would in any event receive the required support. The connected controversies were closed to bring finality to the matter. Case-Laws Insolvency and Bankruptcy Thu, 27 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441509