https://www.taxtmi.com/caselaws?id=441569 The Court allowed the appeal, set aside the Adjudicating Authority's rejection of the Resolution Plan, and directed the Successful Resolution Applicant to submit an Addendum undertaking not to assign securities of Dissenting Financial Creditors. The Resolution Plan, approved by a significant majority, is to be remitted back to the Committee of Creditors for reconsideration with the proposed Addendum. The Court emphasized the importance of considering the Resolution Plan's substantial value compared to the liquidation value of the Corporate Debtor. en-us Wed, 09 Aug 2023 00:00:00 +0530 Fri, 11 Aug 2023 08:15:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441569 The Court allowed the appeal, set aside the Adjudicating Authority's rejection of the Resolution Plan, and directed the Successful Resolution Applicant to submit an Addendum undertaking not to assign securities of Dissenting Financial Creditors. The Resolution Plan, approved by a significant majority, is to be remitted back to the Committee of Creditors for reconsideration with the proposed Addendum. The Court emphasized the importance of considering the Resolution Plan's substantial value compared to the liquidation value of the Corporate Debtor. Case-Laws Insolvency and Bankruptcy Wed, 09 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441569