https://www.taxtmi.com/caselaws?id=309369 The Tribunal found the Company Petition maintainable and rejected an application based on pendency of a winding-up petition. The Resolution Plan by Dalmia Cement was approved by 100% vote share of the CoC, exceeding the liquidation value. Stakeholders raised objections, but the Tribunal upheld the plan, emphasizing CoC's commercial wisdom. Compliance with legal provisions was stressed, with directions for RP conduct. The Tribunal suggested policy changes for shareholder approval in CIRP cases. Modifications to the Resolution Plan were proposed, with a deadline for acceptance to avoid liquidation proceedings. en-us Wed, 03 Jul 2019 00:00:00 +0530 Mon, 28 Aug 2023 18:18:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309369 The Tribunal found the Company Petition maintainable and rejected an application based on pendency of a winding-up petition. The Resolution Plan by Dalmia Cement was approved by 100% vote share of the CoC, exceeding the liquidation value. Stakeholders raised objections, but the Tribunal upheld the plan, emphasizing CoC's commercial wisdom. Compliance with legal provisions was stressed, with directions for RP conduct. The Tribunal suggested policy changes for shareholder approval in CIRP cases. Modifications to the Resolution Plan were proposed, with a deadline for acceptance to avoid liquidation proceedings. Case-Laws Insolvency and Bankruptcy Wed, 03 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309369